Support The Moscow Times!

Gazprom Sees Low Gas Use

European gas consumption is falling and creating serious problems for Gazprom, Valery Golubev, deputy chief executive at the state-controlled gas export monopoly, told the State Duma on Monday.

"The world market is not as favorable as it could be," Golubev told the energy committee of the State Duma. "We note significant declines on the European market."

The hearings come as Gazprom pushes back against a Finance Ministry proposal to hike mineral extraction tax on gas as part of measures intended to raise revenues from the sector by about $5 billion next year.

(Reuters)

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.