Rumours for the future of Gazprom Energy grow

The British arm of Kremlin-backed gas giant Gazprom reportedly seeks to find a buyer to avoid collapse amid companies rush to withdraw from a range of contracts following the Russian invasion of Ukraine.

According to The Sunday Times, the Manchester-based Gazprom Energy could fold if no buyer is found.

It is estimated that the company provides nearly 20% of gas used by British firms.

The Sunday Times reports that Gazprom Energy’s executives have already contacted rivals about buying the company.

The newspaper said fast food giant McDonald’s, Siemens and waste company Biffa confirmed that they were in talks with Gazprom about exiting multimillion-pound contracts with the supplier.

Government officials are reportedly worried about Gazprom Energy’s future.

ELN has approached Gazprom Energy and Gazprom Marketing & Trading Retail – the companies did not respond before publication.

Published: 21-03-2022