British arm of Russian energy giant Gazprom facing collapse

The British arm of Russian energy giant Gazprom is facing collapse as major customers head for the doors. 

Gazprom Energy, based in Manchester, supplies more than a fifth of the gas used by UK companies but does not serve households. 

After the firm’s boss, Alexei Miller, was sanctioned by the UK this month over his ties with Vladimir Putin, businesses such as McDonald’s, Siemens and Biffa have tried to cut ties. 

They hold contracts with the supplier worth millions of pounds. The exodus has led to fears over the company’s future, raising the prospect of another taxpayer bailout of an energy firm. 

Gazprom Energy has approached rivals touting itself for sale, the Sunday Times reported. But it has attracted little interest.

The energy supplier does not directly sell Russian gas – it resells gas from the National Grid, which includes supplies from the North Sea and other sources.