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News // Companies

Growth in domestic gas debt decreasing in Russia for 2nd consecutive year

26 January 2018 , 18:00Neftegaz.RU650

Gazprom reviewed on January 25, 2018, the information about the company’s efforts aimed at strengthening financial discipline with regard to domestic gas supplies and the measures taken to address gas debt repayment.

 

The continued accumulation of overdue debt for gas supplies remains a problem for the Russian gas market. According to current data, the total outstanding debt reached RUB 170.7 billion by January 1, 2018, an increase of RUB 9.8 billion from early 2017. Among the most problematic non-payers are heating suppliers, which account for about 35 % of the debt and two-thirds of debt growth.

 

At the same time, Gazprom managed to curb the growth of the domestic consumer debt for the 2nd consecutive year, as debt growth went down from 18.3 % in 2015 to 7.1 % in 2016 and further down to 6.1 % in 2017. There is also an upward trend in payments for the ongoing supplies: according to estimates, gas payments by end consumers rose from 96.3 % to 97.4 % over the past 3 years.

 

The positive developments concerning non-payment come as a result of a set of measures implemented by Gazprom, such as the actions conducted at the behest of the Commission on Strengthening Financial Discipline set up by the Board of Directors in 2017.

 

Such measures as legal claims and close cooperation with law enforcement bodies are especially effective, with the resulting compensations reaching RUB 132.3 billion in 2017. The company continues to work with regional authorities, including under schedules for gas debt repayment.

 

To read the news in Russian.

 

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