international magazine
07 / 2009

The question of price
Gazprom is enduring difficult times, but still hoping for the best

The drop in demand for energy resources during the world crisis has been more of a problem for the Russia's «national treasure» Gazprom than it has been for the country's oil companies. In light of the double-digit drop in the percentage of gas production, the halving of Russia's share on the European gas market and an expected $25bn decrease in export revenue, a year ago top-managers at Gazprom were hardly likely to have foreseen the company's position today. However, the monopoly's leaders are cautiously optimistic about the future — the second half of the year should be more successful for Gazprom.