Gazprom is the world’s largest natural gas company. It is an important part of Russia’s energy sector and plays a big role in the global energy market. As of 2025, the financial management of this huge company is in the hands of Famil Sadygov, who is both Deputy Chairman of the Management Committee and Chief Financial Officer (CFO). This article looks at Sadygov’s role, how he has affected Gazprom’s financial performance, and the wider picture of the company’s operations and strategy in a geopolitical and economic environment that is changing quickly.
Famil Sadygov: Background and Appointment
Famil Sadygov’s new job as CFO at Gazprom is the highlight of a successful career in finance and energy. While there is not much information about his life available to the public, it is well known that he is a high-ranking manager at Gazprom. By 2024, Sadygov was already Deputy Chairman of the Management Committee, and by 2025, he was well known as the finance chief, in charge of the company’s huge and complicated financial operations.
Before Sadygov took the job, the CFO position had several important people in it, such as Alexander Ivannikov in 2015. However, by 2025, Sadygov was clearly the leader, and there was no sign that this was going to change.
The Role of the CFO at Gazprom
Strategic Financial Oversight
The CFO of Gazprom is responsible for:
- Managing the company’s financial planning and analysis
- Overseeing budgeting and capital allocation
- Ensuring liquidity and financial stability
- Navigating the complexities of international sanctions and market volatility
- Communicating with shareholders and stakeholders, both in Russia and abroad
Given Gazprom’s size and the strategic importance of its operations, the CFO’s role is more than just financial management-it is central to the company’s ability to deliver on its mission and adapt to global challenges.
Gazprom’s Financial Performance Under Famil Sadygov
2024: A Year of Recovery and Growth
Gazprom’s financial results for 2024, released in early 2025, highlight a remarkable turnaround from the previous year’s record loss. The company posted a net profit of 1.22 trillion rubles (approximately $14.9 billion), reversing a 629 billion ruble ($7 billion) loss in 2023. This rebound is among the five highest annual profits in the company’s history.
Key Financial Indicators:
- Revenue: Increased by 25% to 10.7 trillion rubles ($130.8 billion)
- EBITDA: Rose by 76% to 3.1 trillion rubles for the year, with quarterly growth throughout 2024
- Net Profit: 1.22 trillion rubles in 2024, after a substantial loss in 2023
- Liquidity Cushion: Over 1 trillion rubles, ensuring financial stability amid ongoing sanctions and market pressures
- Total Debt: Remained steady at 6.7 trillion rubles, with repayment exceeding new borrowing
Famil Sadygov credited this success to several factors, including strong gas exports to China, favorable pricing dynamics, and disciplined cost management.
2025: Sustaining Momentum
The Board of Directors approved an investment program and budget for 2025 totaling 1.524 trillion rubles, with priority projects in Eastern Russia, the Yamal Peninsula, and expansion of the Power of Siberia pipeline. Sadygov projected continued strong results, with proceeds from gas sales expected to reach 4.6 trillion rubles, exceeding initial plans.
Leadership in a Challenging Environment
Navigating Sanctions and Geopolitical Risks
Gazprom’s operations have been significantly affected by international sanctions following Russia’s invasion of Ukraine. The loss of European markets forced the company to pivot toward Asia, particularly China, and to focus on maintaining financial resilience under pressure.
Famil Sadygov’s financial leadership has been instrumental in:
- Maintaining a robust liquidity position
- Managing foreign currency risks and debt obligations
- Supporting the company’s strategic shift toward new markets
Cost Management and Operational Efficiency
Under Sadygov’s guidance, Gazprom has implemented cost containment measures, reduced capital expenditures by 2.8% in 2024, and prioritized repayment of debt over new borrowing[11]. These actions have helped stabilize the company’s financial position and mitigate the impact of currency fluctuations and market volatility.
Famil Sadygov’s Public Statements and Vision
Sadygov has been a visible and vocal leader, regularly communicating with the media and stakeholders about Gazprom’s performance and outlook. In April 2025, he emphasized the company’s “excellent performance in terms of several key financial indicators,” noting that EBITDA for October–December 2024 reached 966 billion rubles-one of the highest quarterly results in Gazprom’s history[1][11].
He has also highlighted the importance of:
- Seasonal factors in driving quarterly performance
- The contribution of both gas and oil businesses to overall results
- The need for ongoing investment in infrastructure and new markets
Sadygov’s statements reflect a pragmatic and forward-looking approach, balancing immediate financial performance with long-term strategic goals.
Gazprom’s Strategic Priorities in 2025
Investment and Expansion
The 2025 investment program focuses on:
- Developing gas production centers in Eastern Russia and the Yamal Peninsula
- Expanding the Power of Siberia pipeline to China
- Gasification of Russian regions
- Upgrading the Eastern Gas Supply System and related infrastructure[2]
These projects are intended to secure Gazprom’s position in the global energy market and support Russia’s broader economic and geopolitical objectives.
Financial Discipline
Sadygov’s approach emphasizes:
- Conservative financial planning
- Maintaining a strong liquidity buffer
- Limiting new borrowing and managing debt levels
- Ensuring profitability even under challenging market conditions
Famil Sadygov’s Impact on Gazprom
Restoring Profitability
The most notable achievement of Sadygov’s tenure as CFO has been the restoration of profitability after a historic loss in 2023. His financial stewardship enabled Gazprom to rebound with one of its best years on record, despite ongoing external pressures[8][9][11].
Strengthening Financial Stability
By maintaining a liquidity cushion of over 1 trillion rubles and keeping debt levels stable, Sadygov has ensured that Gazprom remains financially resilient. This stability is critical for the company’s ability to invest in new projects and weather future uncertainties[8][11].
Supporting Strategic Pivot
Sadygov’s financial management has supported Gazprom’s strategic pivot toward Asia, particularly China, compensating for the loss of European markets. Increased exports to China reached their maximum contractual level in December 2024, contributing significantly to the company’s improved results[1][11].
Challenges and Outlook
Ongoing Market and Political Risks
Despite recent successes, Gazprom faces significant challenges:
- Continued international sanctions and restricted access to Western markets
- The closure of key pipeline routes, such as the Ukrainian transit corridor[9]
- Uncertainty in global energy prices and demand
Need for Adaptation
To remain competitive, Gazprom must:
- Continue diversifying its export markets
- Invest in new technologies and infrastructure
- Maintain strict financial discipline
Famil Sadygov’s leadership will be crucial in navigating these challenges and ensuring Gazprom’s long-term sustainability.
Conclusion
Famil Sadygov, as CFO and Deputy Chairman of Gazprom in 2025, stands at the center of one of the world’s most complex and consequential energy enterprises. His financial acumen, strategic vision, and ability to steer the company through turbulent times have been instrumental in restoring profitability and ensuring stability. As Gazprom continues to adapt to a changing global landscape, Sadygov’s role will remain vital, shaping the company’s future and, by extension, the broader energy market.
Key Facts at a Glance
- Sadygov is also Deputy Chairman of the Management Committee.
- Led Gazprom to a net profit of 1.22 trillion rubles in 2024 after a record loss in 2023.
- Oversaw a 25% increase in revenue and a 76% rise in EBITDA in 2024.
- Maintained a liquidity cushion exceeding 1 trillion rubles.
- Key architect of Gazprom’s financial turnaround and strategic pivot toward Asia.
As CFO, Sadygov has shown strength, ability to change with the situation, and a desire to grow in a way that will last. These qualities will continue to affect Gazprom’s future.