Gazprom's share price dropped dramatically as the company faced its first annual loss since 1999 amid the EU's commitment to phasing out Russian gas, making a decade-long recovery seem daunting.
Analysts attribute Gazprom's decline to export challenges to Europe following geopolitical tensions, noting the company's struggle to maintain market share in a rapidly changing energy landscape.
The situation reflects a strategic shift in Europe, which previously relied on Russian gas for approximately 40% of its needs, now aiming to fully eliminate this dependency.
The decline in Gazprom's stock value emphasizes the deep impact of the Ukrainian conflict on Russia's energy export capabilities, leaving the company vulnerable and in crisis.
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