Analysis: Gazprom's export revenue may fall by 50% in 2023
Lost European sales could halve the export revenues of Russia's Gazprom this year, meaning a steep reduction in tax income for the state, according to analysts, export data and Reuters calculations.
Exports made by Gazprom, one of the country's largest taxpayers, shrank after President Vladimir Putin's "special military operation" in Ukraine triggered Western sanctions and as some supplies of gas to Europe from Russia declined.
According to Reuters calculations, based on export duties and volumes, Gazprom's revenues from overseas sales may have declined in January to $3.4 billion from $6.3 billion in the year-earlier period following a fall in gas supplies to Europe.
If the trend continues, Gazprom's export revenues for the whole year could be halved compared to 2022 when its export volumes also declined by nearly half.
The world's largest producer of natural gas, which no longer publishes its earnings, did not respond to a request for comment. Neither did Russia's finance ministry.
