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DOI: 10.15862/19FAOR325 (https://doi.org/10.15862/19FAOR325)

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Rogachev D.V. Assessment of the effectiveness of the reorientation of PJSC Gazprom’s international business to eastern markets. Russian journal of resources, conservation and recycling. 2025; 12(s3). Available at: https://resources.today/PDF/19FAOR325.pdf (in Russian). DOI: 10.15862/19FAOR325

Assessment of the effectiveness of the reorientation of PJSC Gazprom’s international business to eastern markets

Rogachev Daniil Vasilyevich
Financial University under the Government of the Russian Federation, Moscow, Russia
E-mail: daniil.rogachev77@yandex.ru

Abstract. In the context of sanctions pressure and the transformation of international economic ties, the reorientation of the foreign economic activity of Russian transnational corporations towards the markets of the Asia-Pacific region has acquired a strategic character. The subject of this study is the effectiveness of the reorientation of PJSC Gazprom’s international business to eastern markets within the framework of the «pivot to the East» strategy. The paper examines the results of the company’s activities in the pre-sanctions period, analyzes the export model, the structure of gas supplies, and the infrastructure architecture of the company, and characterizes the key export routes and their design capacities. A quantitative assessment of the pace of reorientation to eastern markets is provided on the basis of the dynamics of gas supplies to China via the Power of Siberia pipeline, the capacity utilization ratio, and the substitution ratio; the dynamics of the company’s IFRS revenue and net profit and the currency structure of export settlements with Asian countries are also examined. Particular attention is paid to comparing the pace of expansion of the eastern direction with the scale of the lost European market and to the restructuring of the payment environment of foreign trade. The results of the study indicate that the reorientation to eastern markets demonstrates high export growth rates and rapid development of new infrastructure, but is accompanied by a time lag of financial adaptation and cannot fully compensate for the loss of the European direction in the short term. The practical significance of the work is determined by the applicability of the obtained assessments in analyzing the strategies of Russian energy companies and substantiating the development of eastern export infrastructure.

Keywords: PJSC Gazprom; pivot to the East; international business; transnational corporations; Eastern markets; gas exports; Power of Siberia; substitution ratio; Asia-Pacific region

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