Gazprom's low cash flow, high spending
Russia's gas behemoth continues to sink money into projects of dubious value
Gazprom seems hell-bent on focusing on "value-destructive" investment projects rather than complying with a Kremlin decree to raise dividends, investment analysts say. The latest plan to cause dismay amongst investors is a $1bn expansion of the Sakhalin-Khabarovsk-Vladivostok (SKhV) gas pipeline. Gazprom built the original pipeline in 2011 to transport natural gas to China and other Asian markets via Vladivostok. The company claims the expansion is required for the provision of future gas deliveries to customers in the Far East, deliveries for the planned Far East Petrochemical Complex (Fepco) and a fertilizer production plant near Vladivostok. But analysts say the project will barely be use
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
