Gazprom is looking at every avenue to cut costs, including its portfolio of luxury hotels, after the group fell to its second successive year of losses as Russia’s war with Ukraine continues to hammer energy exports.
The group’s net losses on Russian Accounting Standards (RAS) hit 1.076 trillion roubles ($12.89 billion) last year, largely attributable to a decline in the market value of shares in Gazprom’s oil division, Gazprom Neft, according to Interfax, Reuters reported.
