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BREAKING NEWS

Gazprom joins queue of companies threatening to leave London

Russian energy giant Gazprom set up shop in London in 1999 and has traded there ever since, but it may quit The City if Britain undergoes a "hard" Brexit that might amputate Gazprom's biggest market.

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Gazprom joins queue of companies threatening to leave London

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Russia’s state-run Gazprom may quit London and relocate its trading and marketing operations if a “hard” Brexit denies the energy giant preferential access to EU markets.

Media reports say the company’s most important export market is too valuable to see compromised, and staying in a London outside the EU could see raised barriers and increased costs.

Similar fears of a loss of business with EU nations means several London-based banks and financial institutions are considering relocating parts of their operations.

Gazprom opened its London trading offices in 1999.