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
26 June 2025
ExxonMobil and Eni offer hope for projects as sector looks to get to grips with cost overruns and delays
26 June 2025
While oil prices will determine the trajectory of the key US shale patch, regulation and technological shifts are also likely to shape direction longer term
26 June 2025
Last year was one of records for renewables but also for oil, gas and coal, as the energy transition progresses in an increasingly uneven way, according to the Energy Institute’s latest annual report
25 June 2025
New discoveries and stabilisation of legacy fields’ output have helped China reverse the decline and be a top-five producer in recent years