Russian domestic battlefield
Rosneft and Novatek are biting at Gazprom's heels in the domestic market. Its focus is international
Gazprom has dominated Russia's gas industry for decades. Now, as Rosneft and Novatek encroach on its territory, the domestic market looks increasingly like an afterthought for the firm. Three of the company's top executives were in Hong Kong on 2 March for an investor day titled Strong Foothold in Challenging Times. Just one of the 50 slides shown to investors was dedicated to Gazprom's domestic market. Alternative producers are outstripping the monopoly in terms of production growth rates while Gazprom is focusing most of its energies on protecting its market share in Europe. About half of Gazprom's gas is sold domestically—but it only represents about 23% of its sales revenue. "The Russian
Also in this section
17 July 2025
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends
16 July 2025
Crude quality issues are an often understated risk to energy security, highlighted by problems at a key US refinery
15 July 2025
Government consultations on the windfall tax and the exploration licence ban are positive steps, but it is unclear how long it will take for them to yield tangible outcomes
15 July 2025
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
