Unprofitability. According to IFRS for 9 months of 2020, losses amounted to $2.7 billion. This result was facilitated by a reduction on natural gas production and exports. In 2020 production volumes fell by 9% (452.7 billion cubic meters) and exports by 10% (179.3 billion cubic meters). The procurement of Russian gas was significantly reduced by both domestic consumers and the foreign market – Germany, Italy and Turkey. The losses of the pipeline gas market do not cover the deliveries through LNG terminals, which increased in 2020 only by 2%.
Read more here.