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Russian domestic battlefield

Rosneft and Novatek are biting at Gazprom's heels in the domestic market. Its focus is international

Gazprom has dominated Russia's gas industry for decades. Now, as Rosneft and Novatek encroach on its territory, the domestic market looks increasingly like an afterthought for the firm. Three of the company's top executives were in Hong Kong on 2 March for an investor day titled Strong Foothold in Challenging Times. Just one of the 50 slides shown to investors was dedicated to Gazprom's domestic market. Alternative producers are outstripping the monopoly in terms of production growth rates while Gazprom is focusing most of its energies on protecting its market share in Europe. About half of Gazprom's gas is sold domestically—but it only represents about 23% of its sales revenue. "The Russ

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