Putin sacrificed Gazprom when ordering invasion of Ukraine – Politico

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Putin sacrificed Gazprom by ordering the invasion of Ukraine, — Politico

After the outbreak of hostilities, the share of Russian exports in Europe decreased, and the value of the shares of the monopolist collapsed by 88% , forcing the company to flare unsold gas.

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Russian monopolist Gazprom is facing one of its biggest crises as the Kremlin launched a full-scale invasion of Ukraine. This is stated in the material of the publication Politico.

Journalists believe that Russian President Vladimir Putin, giving the order to invade Ukraine, incidentally sacrificed the monopolist Gazprom.

The share of Russia's monopoly on gas exports in the European market has fallen from 40% to just 9%, and the Nord Stream pipelines, which Russia has spent more than 20 billion euros on, are idle idle at the bottom of the Baltic Sea. Politico notes that after the invasion of Ukraine, the value of Gazprom shares fell by 88% and in the conditions of international isolation the company is forced to burn a large amount of unsold fuel.

Senior lecturer and expert on Russian energy at King's College London Adnan Watansever believes that the monopolist is currently experiencing an existential crisis. The prospects for further growth of Gazprom, according to him, are somewhat limited and it is possible that in the future the company will have to significantly reduce gas production.

Watansever predicts that the monopolist will face catastrophic financial problems as early as 2025 if Europe can quickly cut off Russian fuel supplies.

Director of Energy Transition Research at the Oxford Institute for Energy Studies James Henderson believes that Vladimir Putin will not let Gazprom go bankrupt, not only because of its symbolic value, but also because the company controls the entire pipeline system in Russia, and also supplies half of the country's energy.

“By the second half of this decades, of course, the question arises whether Gazprom will be able to continue to operate at the same volume as now. This will be a case when it will potentially have to reduce production or have to slightly reduce the company's staff,” Henderson added, commenting on the near-term prospects for the monopolist.< /p>

Note that Ukraine is preparing new sanctions against Russian companies, which may also fall under “d point” monopolist “Gazprom”.