Last year Gazprom received 135.34 billion rubles of net profit under IFRS (International Financial Reporting Standards) related to shareholders. This is almost nine times less than in 2019 (1.2 trillion rubles).

Gazprom’s revenue fell by 17.4 percent (to 6.32 trillion rubles). Capital expenditures fell by 14 percent (to 1.52 billion rubles). Net revenues from gas sales to Europe and other countries fell by 27 percent (to 1.8 trillion).

The company explained it as a decrease in average prices. For non-CIS countries, it fell by a third (from $210.6 per thousand cubic meters to $148). Sales volume fell from 232.4 to 219 billion cubic meters. In 2020, Gazprom reduced remuneration to the Management Board and the Board of Directors by 4.8 percent compared to 2019 (to 3.026 billion rubles).