"Gazprom To Sell Russia's Largest Petrochemical Complex
- 20.11.2025, 10:18
Because of trillion-dollar losses.
"Gazprom is preparing to sell Gazprom Neftekhim Salavat, a large petrochemical complex in Bashkiria, to the holding company Roskhim by the end of the year, sources familiar with the plans of the two companies told "Izvestia". One of them specified that the sum of the deal will amount to 250-270 billion rubles and will allow the gas monopoly to cover losses associated with the collapse of supplies to the European market. Officially, Gazprom and Roskhim did not comment on the information.
According to Gazprom Neftekhim Salavat's own data, the company is the largest in Russia in its industry and produces more than 150 types of products from hydrocarbon raw materials, including gasoline, diesel and oil fuel, various polyethylenes, styrene, urea, ammonia and others. At the end of 2024, the company's revenue amounted to RUB 302.8 bln, 14% more than in 2024. - This is 14% more than in 2023, according to RAS reports. At the same time, net profit for the same period decreased almost seven times - to 4.4 billion.
After the outbreak of a full-scale war in Ukraine, as The Moscow Times writes, Gazprom lost the largest gas buyers in Europe. In January-October 2025, the export monopoly pumped 14.7 billion cubic meters of gas to European customers. That's a 45% drop from the same period last year, when deliveries were at 26.6 billion cubic meters. With the current pumping rates at the end of the year, gas exports from Russia to the EU may amount to about 18 billion cubic meters, which will be the lowest volume since the early 1970s, when the USSR agreed on the first contract for gas supplies to Austria.
With the loss of the European market, Gazprom's net loss at the end of 2024 exceeded 1 trillion rubles, which was the worst result for the last 25 years of work. For January-September 2025, the loss amounted to 170.3 billion
The sale of Gazprom Neftekhim Salavat may allow to partially reduce the state-owned company's debt, which is currently "quite significant", believes analyst of FG Finam Sergey Kaufman. At the same time, the company provided Gazprom with about 5% of its revenue in 2024, added Tamara Safonova, general director of NAANS-Media.
In its turn, Roskhim has a strategic interest in acquiring Gazprom's asset, a source close to the holding noted to Izvestiya. According to him, the group is currently building up its presence in the market to become "an industry leader in key areas."
Roskhim was established in February 2021 and was called Russian Hydrogen until June 2023. The company is engaged in production of various chemical compounds - titanium dioxide, iron sulfate and sulfuric acid. At the end of 2024, the revenue amounted to 22.3 billion rubles. - This is 33% more than a year earlier, according to RAS reports. Net profit increased almost 15 times, up to 1.1 billion.
The holding is 100% owned by the closed unit investment fund "Kvinta", the beneficiaries of which are not disclosed. At the same time, the company is associated with billionaire Arkady Rotenberg, a close friend of Vladimir Putin.
In the past few years, Roskhim has acquired several major players in the market for a total of more than 50 billion rubles. In particular, sodium sulfate producer Kuchuksulfate in the Altai region, methanol producer Metafrax Chemicals in the Perm region, and sulfur and sodium sulfate producer Volzhsky Synthesis in the Volgograd region.