Scores and Ratings
Governance quality was assessed by experts in the following key areas:
- positioning (business reputation, development strategy, etc.);
- governance and control bodies;
- transparency of information;
- rights of shareholders and other stakeholders;
- support factors (additional positive changes);
- stress factors (that have a significant adverse impact on the rating).
The experts confirmed a high standard of corporate governance, noting:
- a sufficiently high level of positioning and strategic planning, including a transparent ownership structure and a Long-Term Development Program that accounts for various scenarios and risks;
- a high level of organization of the Company’s collegial governance bodies, taking into account the Board’s composition, the existence of four specialized committees, the election of the independent director as chairman of the Audit Committee, and Board member liability insurance provided by an insurer carrying the highest Russian reliability rating of ruAAA;
- a high degree of protection of shareholders’ and other stakeholders’ rights;
- a high level of formalization and effectiveness of the risk management and internal control system;
- effective systems for managing labor relations and corporate ethics.
In 2025, an agreement was signed with CSCI Pengyuan Credit Rating Company Limited, a Chinese rating agency, on the assignment of credit ratings to PJSC Gazprom on both the international scale and China’s national scale. In September 2025, the agency assigned PJSC Gazprom high long-term credit ratings: “A-i” on the international scale and “AAA” (highest) on China’s national scale, with a stable outlook. This independent foreign assessment confirms the financial stability and strong creditworthiness of PJSC Gazprom, and serves as an important reference point for investors.
In the reporting year, PJSC Gazprom and Moscow Exchange hosted the Energy of the Market investment forum at the Lakhta Center. Participants included representatives of the Bank of Russia, the Ministry of Finance, and major banks, insurance companies, brokerage firms, and asset managers. The forum provided a new platform for discussing pressing issues and priority areas in the development of the debt capital market. The event concluded with the traditional annual tree planting in the Park of the 300th Anniversary of St. Petersburg to mark PJSC Gazprom’s securities placement transactions for 2025.
Openness to Dialog
PJSC Gazprom continues to honor its obligations to shareholders and investors, maintaining the level of information transparency and openness they expect.
In 2025, the Company published its consolidated IFRS financial statements for 2024, as well as condensed consolidated interim IFRS financial statements for the three, six, and nine months of 2025. The statements were disclosed without exceptions permitted under the Russian Government’s decree No. 1102 dated July 4, 2023, which allows issuers to limit certain disclosures. A substantial volume of additional information (beyond regulatory requirements) was published on the Company’s website during the reporting year in both Russian and English, covering a wide range of activities. Representatives of PJSC Gazprom’s finance and economics division also participated in one-on-one and group meetings with investors during the period.
Shareholders and investors submit hundreds of written inquiries to the Company each year. Every inquiry received is subject to mandatory review under the procedures established by PJSC Gazprom’s internal documents. In the reporting year, Company experts conducted correspondence with shareholders on a range of shareholding matters.
Details on the Company’s Hot Line for shareholder inquiries on any issues of concern are available on PJSC Gazprom’s website. On average, the Company handles more than 100 calls per month, with activity peaking during the voting period ahead of the General Shareholders Meeting. A telephone number and e-mail address for institutional investors are also available on the website.
The Company engages openly and actively with the media through press releases and news published on the Gazprom Group’s websites, totaling 557 items in 2025, as well as through posts on 450 official accounts of the Gazprom Group companies on social media platforms. In the reporting year, 27 journalist visits to Gazprom’s production facilities and other sites were organized.
PJSC Gazprom actively works with rating agencies, strengthening its standing in Russian ESG ratings and demonstrating its commitment to sustainable development principles.
PJSC Gazprom’s ESG ratings
| Rating/index | 2023 | 2024 | 2025 |
|---|---|---|---|
| Sustainability ranking of industrial Russian companies by the National Rating Agency (NRA) | 0.796 (group 1, advanced) | 0.796 (group 1, advanced) | 0.843 (group 1, advanced) |
| ИRussian business’ sustainability index (by RBC and the NCR rating agency) | Category 1 (high) | Category 1 (high) | − |
| Best employer rating from Forbes | Gold | Gold | Gold |
| Expert RA rating of corporate governance quality | A++.gq (highest) | A++.gq (highest) | A++.gq (highest) |
| AK&M ESG reporting rating | Highest level of disclosure | Highest level of disclosure | Highest level of disclosure |
| Responsibility and Transparency Index (MOEX—RUIE) | А (leader group) | А (leader group) | А (leader group) |
| ИSustainability Vector Index (MOEX—RUIE) | А | А | В |
| Moscow Exchange Climate Sustainability Index for Non-Financial Companies | − | − | Participant |
| ISS ESG | C− | C− | C− |
| RAEX ESG Corporate Ranking | BBB | BBB | − |