Overdue Debt of Russian Consumers for Gas Supplies Falls in 2021 by RUB 5.9B

Source: www.gulfoilandgas.com 2/15/2022, Location: Asia

- Overdue debt was reduced in 62 regions.
- Current gas payments via digital services grew by almost 1.5 times.

The Gazprom Board of Directors took note of the information about improving the payment discipline with regard to domestic gas supplies, as well as the measures being taken to recover the debt for the gas supplied, including the interaction with government authorities to perfect the current legislation that regulates the procedure of paying for gas.

It was highlighted that Gazprom is fulfilling in a timely manner all of its obligations on providing reliable gas supplies to Russian consumers. For instance, the year 2021 saw the Company significantly ramp up its gas supplies – by more than 12 per cent – as demand rose in the domestic market.

The Company continues to take measures to reduce the overdue consumer debt for gas supplies, which remains a key problem in the domestic gas market. In 2021, the total overdue debt of Russian gas consumers went down by RUB 5.9 billion to RUB 172.5 billion. As many as 62 constituent entities of the Russian Federation reduced their debt to Gazprom last year (against 50 regions in 2020). In absolute terms, the biggest reductions were achieved in the Kemerovo, Moscow and Samara Regions, the Krasnodar Territory, and the Penza Region. Decreases in overdue debt were observed for most consumer groups, including heat suppliers.

The payment discipline is improved to a large extent through the efforts for enhancing the convenience and transparency of payments via the digital services provided by Gazprom. In 2021, their user base grew by 21.9 per cent. Consumer payments made via online services rose by 45.4 per cent.

The Company continues to cooperate with executive bodies in taking stock of subscriber bases, filing legal claims, and drafting proposals on updating the regulatory framework with regard to gas payments. The Company's initiatives aim to maintain a fair balance between the interests of gas suppliers and consumers, as well as to prevent illegal tie-ins to gas networks.

The Management Committee was tasked with continuing the work on recovering the debt for the gas supplied, improving the gas consumption discipline, and interacting with government authorities to perfect the current legislation of the Russian Federation that regulates the procedure of paying for gas.


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