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Gazprom joins queue of companies threatening to leave London

Gazprom joins queue of companies threatening to leave London
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By Robert Hackwill
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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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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.

#Gazprom reviews #London operations after #Brexithttps://t.co/hF1HHFYn1e

— S. Raszewski, Ph.D (@RashevS) 4 avril 2017

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.

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