This is the best summary I could come up with:

The company made a net loss of 629bn roubles (£5.5bn) in 2023 amid dwindling gas trade with Europe, once Gazprom’s main sales market, as a result of sanctions and the throttling of pipelines to the continent.

The results highlight the dramatic decline of the company, which since the collapse of the Soviet Union has been one of Russia’s most powerful, with its gas supplies often used as a leverage in disputes with neighbours such as Ukraine and Moldova.

According to analysis by Reuters, it was Gazprom’s first annual loss since the late 1990s/early 2000s, when Alexei Miller, an ally of the then newly installed President Putin, took over the company in 2001.

The company, which is now headquartered in St Petersburg, made heavy losses in the late 1990s after it racked up foreign-currency debt, inflated in rouble terms by the financial crisis of 1998.

In mid-2022, Gazprom began throttling supplies of gas to Europe through its Nord Stream 1 pipeline, and that September announced it was indefinitely shutting down the conduit from Siberia into northern Germany via the Baltic Sea.

While the disruption pushed the whole gas price up to near-record highs, European countries had greater success than expected in finding alternative sources of supplies, with the US and Qatar helping to refill storage on the continent.

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