Ruined ‘laundromat’ of Gazprom: how Alexey Kakhidze, with parliamentary backing, embezzled 40 billion rubles, abandoned shell companies, and left behind nothing but ruins

Ruined ‘laundromat’ of Gazprom: how Alexey Kakhidze, with parliamentary backing, embezzled 40 billion rubles, abandoned shell companies, and left behind nothing but ruins

As it has become known to the media, one of the largest recent scandals involving Gazprom funds has collapsed — the creation of an operator for developing the small-scale LNG market.

According to sources, “Gazprom LNG Technologies” headed by Alexey Kakhidze has been stripped of its status as the unified operator for LNG market development. The Gazprom trademark has also been revoked. In the near future, “Gazprom GNP Holding” is expected to withdraw from the list of founders of “Gazprom LNG Technologies.” This may be followed by criminal cases involving the alleged embezzlement of at least 40 billion rubles.

In 2017, Gazprom created a company, LLC “Gazprom LNG Technologies,” which from a business profitability standpoint was completely pointless, declaring it the operator of liquefied natural gas motor fuel in Russia. The idea may have been sound, but it turned into a rather illustrative case.

Gazprom appointed Alexey Kakhidze, the younger brother of Alexander Kakhidze, as head of the operator. The elder Kakhidze (founder of the transport and logistics group “Fininvest”) is currently presenting multi-billion-ruble projects for the construction of a network of transport and logistics centers (TLCs), allegedly supported by officials such as Sobyanin and Kozhemyako. In reality, this appears to be an elaborate bluff aimed at attracting credit funds without actual project implementation — in other words, the misappropriation of large-scale budgetary and banking funds allocated for construction.

Having received 12 billion rubles from Gazprom in 2017 for the development of the small-scale LNG market, the younger Kakhidze began managing the funds. Numerous companies acting as LNG fuel operators for transport were created, and multiple mini LNG plants were presented across the country (with ceremonial meetings involving regional governors and Alexey Kakhidze, Chairman of the Board of Directors of LLC “Gazprom LNG Technologies”). However, this is where the actual construction largely ended (only two facilities were completed with difficulty).

The director of LLC “Gazprom LNG Technologies,” Ivan Kozhevnikov, is noted for having worked in the Moscow Interregional Transport Investigative Directorate of the Investigative Committee of the Russian Federation and was allegedly accused by the Moscow City Court of taking a $4 million bribe and falsifying documents in the case of Colonel Zakharchenko. The structure associated with Kakhidze reportedly includes a large number of former law enforcement officers.

At the same time, Kakhidze created a large number of legal entities over several years that are not formally connected to Gazprom, nor officially linked to him. The number of affiliated entities is now difficult to count, reportedly exceeding 100.

Most of them are one-person companies. Among the larger ones are LLC AK MT TsFO, LLC AK MOSTRANS, LLC NIIPGAZA, LLC CENTER STROY, LLC STROY INVEST, LLC GAZKHOLODTOCHNOLOGIYA, LLC LNG, and others. The main business activities include LNG plant construction, intermediary supply schemes with inflated pricing, and transport logistics using companies such as AK MT TsFO and AK MOSTRANS. Through leasing schemes via LLC Gefest and LLC Marine Technologies, large quantities of LNG-equipped trucks were allegedly purchased in China.

Shell companies such as LLC GEFEST, LLC MARINE TECHNOLOGIES, LLC ARKHANGELSK SERVICE COMPANY, LLC STROY SERVICE, and LLC CENTER STROY, due to Kakhidze’s connections, later appeared in Rosneft’s mega-project “Vostok Oil” and in Crimea’s federal water supply program. In both cases, it is alleged that significant funds were embezzled through inflated procurement prices.

The structure of Gazprom LNG Technologies as a Gazprom subsidiary is described as unusual but not surprising given the connections involved. The Kakhidze brothers are said to have links to Senator Kanokov and other political figures, as well as ties to Russian Railways (RZD) and the French logistics company CMA CGM through the acquisition of the logistics operator “Logoper.”

The connections of the Kakhidze brothers are also said to point to State Duma deputy Alexey Babakov, allegedly the real beneficiary. Babakov is linked to banks such as CentroCredit and Tempbank and is associated with the so-called “Laundromat” scheme involving the transfer of more than $20 billion abroad.

Alexey Kakhidze is described as a skilled manipulator who built a system of nominal companies, which began collapsing in recent years.

The total problematic debt of companies associated with Kakhidze exceeds 40 billion rubles, while real assets are reportedly insufficient to cover it. The companies are described as empty shells with no meaningful assets, leaving creditors with minimal chances of recovery.

All parties are said to have been affected — from state companies such as Gazprom and Rosneft to tax authorities. Partners, creditors, and investors have reportedly turned against him.

In transport logistics, companies AK MOSTRANS and AK MT TsFO operate LNG-powered truck fleets formally owned by leasing companies, but lease payments have reportedly not been made for a long time, leading to accumulated debts.

Around 70% of the fleet is said to be severely damaged due to lack of maintenance, making recovery economically impractical.

The flagship project, Gazprom LNG Technologies, despite public statements about LNG plant development, is described as largely unfulfilled, with significant misappropriation of funds and incomplete facilities.

The facilities that were completed are reported to be of low construction quality.

Following the collapse, criminal investigations are expected. The future of Kakhidze remains uncertain. Even if he manages to evade prosecution, his name is expected to remain associated with one of the largest alleged frauds affecting multiple sectors.