The analysis of Gazprom’s financial condition is hindered by the way in
which it prepares its reports. Gazprom’s financial reports have been drawn
up for the entire Gazprom Group, in which two Gazprom-controlled companies,
Gazpromneft and the electricity holding Gazprom Energoholding,
make a significant contribution to the Group’s high sales figures (in 2017
they accounted for 37% of the Group’s turnover and around 42% of its gross
revenues)
