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Gazprom’s losses can reach $10.8 bln in 2025 due to additional tax burden — lawmaker

The specific load on gas transportation is also growing, since "there will be no exports, but the costs remain," Pavel Zavalny noted

MOSCOW, November 7. /TASS/. Gazprom's losses can reach about 1 trillion rubles ($10.8 bln) in 2025 due to an increase in the tax burden on the company and a decrease in revenue from gas exports, the head of the State Duma Committee on Energy, Pavel Zavalny said on Tuesday.

"I have the latest study from the Institute of Energy Research under the Academy of Sciences. They assess the tax burden and the situation for the next three years for Gazprom, taking into account the decline in exports and export revenues. In the context of a sharp decline in revenue, an increase in gas production, plus an additional tax burden, it turns out that in these conditions Gazprom is being driven into losses that will reach about 1 trillion rubles in 2025, taking into account obligations for the development of gas supply system and other factors," the lawmaker said at a meeting of the Duma Committee on Budget and Taxes.

The specific load on gas transportation is also growing, since "there will be no exports, but the costs remain," Zavalny noted.

On Tuesday, the State Duma Committee on Budget and Taxes adopted amendments that increase the mineral extraction tax on Gazprom gas condensate. As Deputy Finance Minister Alexey Sazanov explained, the increase in the mineral extraction tax for Gazprom is planned in order to compensate for payments that go to the holding's several plants.

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