Risk Management
The Gazprom Group is continuously improving its risk management and internal control system (RMICS), which provides reasonable assurance that PJSC Gazprom will achieve its goals. Powers and obligations in this system are distributed among the governance bodies, structural units of PJSC Gazprom, and its subsidiaries and entities. A dedicated department in charge of risk management and internal controls (RMICD) is responsible for the development of the RMICS. It implements the unified policy, provides methodological support for its implementation, and coordinates risk management and internal control activities. The department is overseen by a Deputy Chairman of the Management Committee.
The Gazprom Group actively cultivates a strong culture of risk management and internal control among employees. During the reporting year, professional development and training programs (covering, among other topics, risk management) reached more than 4,000 employees from more than 100 Gazprom Group entities. Advisory webinars on RMICS functioning are also held on a regular basis.
For more details on PJSC Gazprom’s RMICS structure and participants, see Gazprom Annual Report 2025.
Risk identification covers internal and external events that may occur in the future and have a negative or positive impact on the objectives of PJSC Gazprom and Gazprom Group entities. Key risks are regularly identified and assessed, with mitigants put in place to maintain identified key risks within acceptable limits.
PJSC Gazprom’s internal controls provide a reasonable assurance of achieving the goals of business processes owned by relevant structural units. Information on risk management and internal controls is collected and submitted to stakeholders in time to ensure substantiated decision-making by the management.
The Gazprom Group actively cultivates a strong culture of risk management and internal control among employees. During the reporting year, professional development and training programs (covering, among other topics, risk management) reached more than 4,000 employees from more than 100 Gazprom Group entities. Advisory webinars on RMICS functioning are also held on a regular basis.
An advisory hotline on risk management and internal control is available on PJSC Gazprom’s intranet portal. In the reporting year, it provided support to Gazprom Group entities on implementing, developing, remediating, and improving the RMICS in the context of evolving business processes.
For more details on the RMICS and its performance in 2025, see Gazprom Annual Report 2025.
For more details on the Gazprom Group’s regulations on risk management and internal controls, see the official website of PJSC Gazprom.
The Gazprom Group’s Environmental, Process Safety, Procurement, HR, IT and IS, Quality Management, Import Substitution Risks, and Risks Related to Sanctions and Sales Markets
Environmental Aspect
| Risk / risk group | Risk description | Risk sources |
|---|---|---|
| Natural and climate-related risks | Potential climate changes, natural disasters, and adverse weather conditions that may cause damage to buildings and structures, pipeline transportation systems and service lines. A major part of the natural gas produced by Gazprom comes from Western Siberia, where production may be difficult and relatively costly because of climate conditions. | External |
| Environmental risks | The core hydrocarbon production, transportation, processing and storage operations are exposed to environmental pollution risk. Adverse impacts may include accidents during business operations, damage to ecosystems (land and water pollution), deterioration of soil and vegetation, and erosion. This may lead to degradation of ecosystems and loss of habitat for rare and endangered plant and animal species. | External and internal risks |
For more details on the Gazprom Group’s measures to mitigate environmental risks, see the Environmental Protection section.
| Risk / risk group | Risk description | Risk sources |
|---|---|---|
| HR Risks | ||
| HR management risks | Performance of Gazprom Group entities depends on the availability of sufficiently qualified personnel, development of professional skills in employees by means of comprehensive training and upskilling programs, and increased employee motivation to learn and develop. | External and internal risks |
| Process Safety Risks | ||
| Labor risks | PJSC Gazprom’s production activities are exposed to risks of adverse impact on employees’ health and safety, as well as risks of accidents and fires. | External and internal risks |
| Fire safety risks | ||
| Occupational safety risks | ||
For more details on the Gazprom Group’s efforts to mitigate process safety risks, see the Process Safety section.
For more details on the Gazprom Group’s efforts to mitigate HR risks, see the Gazprom Group’s People section.
| Risk / risk group | Risk description | Risk sources |
|---|---|---|
| Procurement Risks | ||
| Procurement risks | Procurement is related to potential non-compliance with relevant laws. For more details on the Gazprom Group’s efforts to mitigate procurement risks, see the Sustainable Supply Chain section. | External and internal risks |
| IT and IS Risks | ||
| Information technologies (IT) risks | In the course of a digital transformation, the Gazprom Group identified risks related to new/existing external sectoral IT sanctions seeking to destabilize information, information management and other automated systems. | External and internal risks |
| Information security (IS) risks | The Gazprom Group’s operations may be exposed to information security risks, which, if materialized, may lead to breaches of the integrity, confidentiality, or availability of information resources or assets or computer networks. | |
For more details on the Gazprom Group’s efforts to mitigate IT and IS risks, see the Digital Transformation subsection. | ||
| Quality Management Risks | ||
| Risks of deteriorating quality of products, work and services | The Gazprom Group’s activities carry the risk of a decline in the quality of products manufactured, works performed, and services rendered. For more details on the Gazprom Group’s efforts to mitigate quality management risks, see the Quality Management System subsection. | External and internal risks |
| Import Substitution Risks | ||
| Risks of reduced technological sovereignty | The Gazprom Group’s operations are exposed to the risks of restrictions imposed on Russian companies by the USA, EU, and other countries. For more details on the Gazprom Group’s efforts to mitigate import substitution risks, see the Support for Domestic Producers section. | External |
| Risks Related to Sanctions and Sales Markets | ||
| Sanctions risks | Risks of more sanctions and new sanctions imposed by the USA and EU against Russia and Russian persons due to external factors leading to financial (non-financial) consequences for PJSC Gazprom and the Gazprom Group’s projects. | External |
| Price and volume (commodity) risks on external markets | Adverse economic conditions, lower demand for energy commodities, decline in mercantile exchange quotations and/or their long-time stagnation at low levels, which have a negative impact on prices and volumes of gas supplies to external markets. | |
For more details on the Gazprom Group’s efforts to mitigate risks related to sanctions and sales markets, see the Foreign Trade subsection. | ||
Alexey Belenov
Non-destructive testing (NDT) expert, Engineering Center, Gazprom Dobycha Orenburg.
A decorated professional with titles from corporate and industry skills competitions.
Victor Glebov
Lathe operator, 6th grade, Metalworking Crew, Mechanical Repair Service, Gas Production Site, Gazprom Dobycha Orenburg.
Over 29 years of industry experience.
A decorated professional with multiple titles from corporate, regional, and national skills competitions.
Alexey Belenov conducts non-destructive testing of process equipment and pipelines, safeguarding the reliable and secure operation of gas production facilities. His meticulous accuracy and attention to detail are vital to preventing operational risks.
Alexey also proudly continues a family legacy: both his father and uncle work as NDT experts at PJSC Gazprom.
Victor Glebov is a highly skilled technician dedicated to ensuring the seamless operation of critical equipment across Gazprom Dobycha Orenburg. His expertise directly underpins the stability of gas production — an environment where every link in the production process must withstand operational stress.
Victor played a key role in a pioneering operation to machine next-gen threads on production tubing and downhole equipment components. This innovative solution significantly enhanced joint reliability, boosting resistance to high pressures and extreme environments.
Beyond his day-to-day operational duties, Victor actively serves as a mentor, passing down his invaluable expertise to young talent.