Russia’s key gas exporter Gazprom announces 41% fall in profits

The Gazprom Neft in Belgrade, Serbia. Gazprom announced on Tuesday that its profit for 2022 plunged by more than 40% (Alamy/PA)

Gazprom, the state-owned natural gas company that is a pillar of Russia’s economy, announced on Tuesday that its profit for 2022 plunged by more than 40% and said it would not pay a full-year dividend.

The news sent Gazprom shares down about 4% on the Moscow stock exchange. The state owns slightly more than 50% of the company.