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21 Nov, 2023 05:32

Russia’s largest investor revealed

Gazprom leads the Forbes ranking for the second time running
Russia’s largest investor revealed

Energy giant Gazprom has topped the Forbes ranking of Russia’s biggest investors for the second year in a row, the outlet revealed on Monday. 

Gazprom led Russia’s 30 largest companies by capital expenditure, after investing almost $26 billion last year.  According to the outlet, the gas giant’s investments in 2021 totaled nearly $23 billion.

The top three companies also included Russian oil major Rosneft with $12.7 billion in investments, and a subsidiary of the nuclear energy giant Rosatom, Atomenergoprom, at $8.8 billion. 

Russia’s Arctic LNG 2 energy project, operated by the country’s second-largest natural gas producer Novatek, was next on the list with $3.8 billion in investments.

Mining giant Norilsk Nickel rounded out the top five with capital expenditure worth $3.2 billion.

This is the second time the ranking of Russia’s top investor companies has been compiled. The volume of capital invested includes spending on fixed assets and intangible assets, investments in joint ventures as well as costs of acquisition of other companies, according to Forbes.

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