Russia's state-owned gas producer has been forced into a fire sale of luxury property following the collapse of its European business. Gazprom is reportedly preparing to put its Italian palazzo-style export headquarters and other luxury properties on the market as the business scrambles for savings. The plush office building in Saint Petersburg, which sits in the prestigious Ostrovskogo Square next to the Carlo Rossi-designed Alexandrinsky Theatre, features glass-panelled rooms, sound-proofed conference rooms and a six-storey atrium. When it was opened six years ago, the building was hailed as "symbolic" by Gazprom chief executive Alexei Miller – a trusted ally of Russian president Vladimir Putin – who added: "Europe will increasingly need Russian gas."