The company has 456,000 employees and annual sales of USD 165 billion. The market value of the corporation makes it one of the largest companies in the world in the field of energy, as it controls no less than 15% of the world’s gas reserves and a considerable amount of oil.
In recent hours, the gas company issued a statement in which it guaranteed the supply of Russian gas on a routine basis for transit to Europe through the territory of Ukraine, the official representative of the holding company, Sergey Kupriyanov, told reporters.
“Gazprom” supplies Russian gas for transit through the territory of Ukraine in the regular mode, according to the requests of European consumers – 109.6 million cubic meters. m March 1,” he said.
This volume is even slightly higher than the supplies under long-term reserves for gas transit through Ukraine (about 109.5 million cubic meters per day). As of Monday, February 28, requests amounted to 105.8 million cubic meters.
The confirmation comes after oil and gas company Shell announced it is leaving Russia, a sign that the invasion of Ukraine is costing Russia’s key energy industry foreign investment and expertise. Shell announced on Monday that it was pulling out of joint ventures it had with Russia’s state-owned Gazprom and related entities, including its 27.5% stake in the Sakhalin-II natural gas facility, its 50% stake in two projects development of oil fields in Siberia.
Shell also plans to pull out of Nord Stream 2, a controversial pipeline that brings natural gas from Russia to Western Europe. German Chancellor Olaf Sholz suspended certification of that plan when Russia invaded Ukraine.
“We are shocked by the loss of life in Ukraine, which we deplore and which is the result of a senseless act of military aggression that threatens European security,” said Shell CEO Ben van Beurden.
Several Western energy companies have come under increasing pressure to abandon their investments in Russia, as concerns have been raised that Moscow will use oil and gas sales to finance its war. The United States, Britain, the European Union and other countries have slapped sanctions on banks, businesses and members of Russia’s economic elite in response to the invasion.
The decision comes shortly after the oil company BP announced that it would withdraw its almost 20% stake in the Russian company Rosneft. Also on Monday, the Norwegian company Equinor announced that it would cease its investments in Russia and sell its assets in the country.
Russia’s economy is heavily dependent on hydrocarbons, which comprise 60% of the country’s exports. In 2020, Russia was the third largest oil exporter in the world, with 10.5 million barrels per day, 11% of the world total, according to the United States Energy Information Agency.
Source: Ambito
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