TOP 10 natural gas producers

During the energy crisis in Europe, Russia is increasing its foreign gas supplies. Eight of the ten leading gas producing companies in the country are included in Gazprom Group. Analysis of the solvency ratio shows, on average, a low dependence of TOP 10 enterprises on external loans in 2020, with declining revenues and growing profits.

Information agency Credinform has selected for this ranking in Globas the largest Russian producers of natural gas and condensate. Companies with the largest volume of annual revenue (TOP 10) were selected for the ranking, according to the data from the Statistical Register and the Federal Tax Service for the latest available periods (2018 - 2020). They were ranked by solvency ratio (Table 1).

Solvency ratio (х) is calculated by dividing total equity by total assets. Shows the dependence of the company on external loans. The recommended value is >0,5.

The value of the ratio below the minimum one indicates a strong dependence on external sources of funds, which, if the market conditions deteriorate, can lead to a liquidity crisis and an unstable financial position of the company.

For the most complete and objective view of the financial condition of the enterprise, it is necessary to pay attention to the complex of indicators and financial ratios of the company.

Table 1. Net profit, revenue, solvency ratio and solvency index Globas of the natural gas producers (TOP 10)

Name, INN, region	Revenue, million RUB		Net profit (loss), million RUB		Solvency ratio (x), >0,5		Solvency index Globas
	2019	2020	2019	2020	2019	2020
1	2	3	4	5	6	7	8
JSC GAZPROM DOBYCHA TOMSK INN 7019035722 Tomsk region	42 540	32 891	5 375	4 423	0,67	0,73	253 Medium
LLC GAZPROM DOBYCHA ORENBURG INN 5610058025 Orenburg region	88 019	73 041	1 267	-309	0,69	0,68	272 Medium
LLC GAZPROM DOBYCHA NOYABRSK INN 8905026850 Yamal-Nenets autonomous district	62 531	81 025	1 283	4 367	0,22	0,62	237 Strong
LLC NOVATEK-YURKHAROVNEFTEGAZ INN 8903021599 Yamal-Nenets autonomous district	171 960	137 716	4 239	1 930	0,63	0,61	256 Medium
JSC SEVERNEFTEGAZPROM INN 8912001990 Yamal-Nenets autonomous district	51 742	44 073	4 408	5 950	0,68	0,54	157 Superior
LLC NOVATEK-TERKOSALENEFTEGAZ INN 8911020768 Yamal-Nenets autonomous district	113 459	111 813	11 683	7 683	0,57	0,52	203 Strong
LLC GAZPROM DOBYCHA URENGOI INN 8904034784 Yamal-Nenets autonomous district	303 918	270 016	16 322	15 816	0,52	0,49	191 High
LLC GAZPROM DOBYCHA NADYM INN 8903019871 Yamal-Nenets autonomous district	209 533	211 011	2 390	4 777	0,30	0,41	217 Strong
LLC GAZPROM DOBYCHA YAMBURG INN 8904034777 Yamal-Nenets autonomous district	333 793	277 478	1 700	9 021	0,33	0,40	202 Strong
LLC GAZPROM DOBYCHA ASTRAKHAN INN 3006006420 Astrakhan region	94 612	78 928	982	237	0,37	0,35	281 Medium
Average value for TOP 10	147 211	131 799	4 965	5 390	0,50	0,54
Industry average value (oil and gas extraction)	15 939	10 749	2 421	1 798	0,65	0,66

growth of indicator to the previous period, fall of indicator to the previous period

The average 2020 value of solvency ratio of TOP 10 was above the industry average one. Six of TOP 10 companies had decrease in 2020, while in 2019 the decrease was recorded for four companies.

Two of ten companies gained revenue and four ones gained net profit in 2020.

The decrease in average revenue was 10%, and there was 33% fall of the industry average value.

The average profit of TOP 10 have increased almost 9%. However, on average in the industry, the decrease was recorded by almost 26%.

The industry average values of solvency ratio have raised for three periods during the past 5 years. The highest value was recorded in 2018 and the lowest one was in 2016 (Picture 1).

Picture 1. Change in the average values of solvency ratio of natural gas producers in 2016 - 2020