Russia's state-controlled gas monopoly and one of the world's largest integrated energy groups by reserves, with oil exposure via ~96%-owned Gazprom Neft. Enormous conventional gas base in Yamal, Nadym-Pur-Taz and Eastern Siberia, but the business model was gutted by the post-2022 collapse of European pipeline exports (Nord Stream, transit via Ukraine) that once drove the bulk of cash flow.
Sanctioned; lost EU gas market; figures estimated.
Its EV/EBITDA of 2.5x is below the 5.9x median across the 142-company universe, the free-cash-flow yield of 17.6% is higher than the 6.5% median, and at $0.66/boe of proved reserves it is cheaper than the $13.51/boe median.
On a balanced screen across the universe, Gazprom scores 43/100, strongest on valuation (81/100). Sub-scores: value 81, quality 39, growth 16, risk 93 (higher = riskier). Note: sanctioned / uninvestable for Western acquirers — shown for completeness only.
Gazprom holds approximately 135 billion boe of proved (1P) reserves with FY2025 production of about 8 thousand boe/d (35% liquids), a reserve life of roughly 45105.2 years. Break-even: n/a (state gas monopoly) — post-2022 loss of European market; pivot to China (Power of Siberia)
For Gazprom, no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.
| Country / region | Prod. share | Country risk | Key jurisdiction risk |
|---|---|---|---|
| Russia | 95% | 92 | Sanctions, expropriation, export bans, war; effectively uninvestable. |
| Other | 5% | 50 | diversified/unspecified exposure — universe-average proxy |
Enerquill Advisory provides asset valuation, petroleum fiscal modelling and risk analysis for oil, gas and LNG transactions — including bespoke, deal-specific NAV and acquirer–target screens that go well beyond this public data.
Work with us →About Enerquill| Asset | Location | Type | Notes |
|---|---|---|---|
| Asset | Country | Type | note |
| Power of Siberia 1 | Russia/China | Gas pipeline | Chayanda/Kovykta to China; ramp toward ~38 bcm/yr; core eastward pivot |
| Yamal (Bovanenkovo) | Russia | Gas | Flagship Arctic gas hub; long-life reserves |
| Nadym-Pur-Taz | Russia | Gas | Legacy West Siberian production heartland; mature decline |
| Power of Siberia 2 (proposed) | Russia/China | Gas pipeline | Planned via Mongolia; unsanctioned, contract terms unresolved |
| Gazprom Neft (upstream) | Russia | Oil/condensate | ~96% owned; ~900 kbbl/d liquids; main oil earnings engine |
| Portovaya / Sakhalin LNG | Russia | LNG | Limited LNG capacity; small vs pipeline scale |
| Astrakhan / Orenburg | Russia | Gas/condensate | Sour-gas processing complexes; domestic supply |
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Production (mboe/d) | 10 | 10 | 8 | 8 | 8 |
| Proved reserves (bnboe) | 138.00 | 137.00 | 136.00 | 135.00 | 135.00 |
| Revenue ($bn) | 138.0 | 155.0 | 95.0 | 118.0 | 120.0 |
| EBITDA ($bn) | 60.0 | 55.0 | 25.0 | 34.0 | 35.0 |
| Net income ($bn) | 28.0 | 16.0 | -7.0 | 13.0 | 12.0 |
| Free cash flow ($bn) | 20.0 | 15.0 | -8.0 | 5.0 | 6.0 |
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Primary: Gazprom FY2025 annual report / results release and investor disclosures; market data via public providers (~mid-2026). Figures are best-estimates pending source verification.
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