Debt management

Gazprom pursues an efficient debt management policy.

As of December 31, 2020, the overall debt of the Gazprom Group amounted to RUB 4,907.6 billion.

The Group’s net debt at the end of 2020 stood at RUB 3,872.7 billion.

In 2020, the net debt/adjusted EBITDA ratio was at the level of 2.6.

Gazprom takes a reasonable approach to sources of financing and uses borrowed funds efficiently. The majority of the Group’s debt obligations is denominated in foreign currencies: some 23 per cent in US dollars and 49 per cent in euros. Ruble loans make up about 22 per cent, mostly in the debt portfolios of the Gazprom Group’s subsidiary entities.

The Group’s debt portfolio is well-balanced in terms of maturity, with over a third of the total composed of loans with a maturity of more than five years.