Gazprom’s financial stability and geopolitical challenges (2008-2023): LNG expansion as a strategic response

Titolo Rivista ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT
Autori/Curatori Maroua Lahmar, Ibtissem Belkhadem
Anno di pubblicazione 2025 Fascicolo 2025/1
Lingua Inglese Numero pagine 22 P. 125-146 Dimensione file 214 KB
DOI 10.3280/EFE2025-001005
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This paper examines Gazprom’s financial health (2008-2023) using Altman’s Z-score model, analyzing key financial ratios and their relation to Russian natural gas exports amidst geopolitical upheavals. The findings reveal significant volatility in financial performance, particularly during the financial crisis of 2008 and the Russian-Ukrainian conflicts, highlighting the strain on Gazprom’s financial position. Despite maintaining a strong overall financial standing, recent declines indicate vulnerabilities linked to reduced pipeline exports to Europe. The study emphasizes the potential of LNG exports as a strategic response, enabling Gazprom to reduce dependency on limited suppliers, adapt to market changes, and ensure long-term financial stability.

Parole chiave:Gazprom, geopolitical tensions, Z-score, financial performance, LNG, natural gas Prices.

Jel codes:Q400, Q410, Q480

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Maroua Lahmar, Ibtissem Belkhadem, Gazprom’s financial stability and geopolitical challenges (2008-2023): LNG expansion as a strategic response in "ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT" 1/2025, pp 125-146, DOI: 10.3280/EFE2025-001005