Gazprom troubles may impact EU consumers

With Gazprom's profits dwindling and its debt rising, supply contracts with EU countries could be renegotiated and pipeline politics are likely to sharpen, energy experts have told EUobserver.

Russian state-owned gas producer Gazprom on Monday said it would slash its dividends sevenfold compared to last year, as it struggles with falling profits and rising debt.

The gas giant said its net profit in the fourth quarter of 2008 had fallen 84 percent to €811 million, while its net de...