Gazprom’s net profit climbs declines in Q1

Russian energy giant Gazprom reported an 8 percent lower net profit in the first quarter of this year.

Moscow-based Gazprom posted a profit of 333.45 billion roubles ($5.89 billion) in the first quarter as compared to 362.31 billion roubles in the same quarter the year before.

Gazprom’s revenue rose to 1.8 trillion roubles as compared to 1.7 trillion roubles in the first quarter last year.

At the same time, the company said its net debt increased 4.4 percent to 2 trillion roubles. The company reduced its net debt by 7 percent in 2016 to 1.93 trillion roubles.

Gazprom’s net sales of natural gas to Europe and Turkey dropped by 10 percent to $593.88 billion roubles.

This was mainly driven by the decrease in average prices of rouble. This was partially compensated by the increase in volumes of gas sold by 13 percent to 7.5 bcm, Gazprom said.

The Russian company is Europe’s largest supplier of natural gas and generates more than a half of its revenue from selling gas to Europe.

 

 

Share this article

Follow LNG World News

Posted on June 1, 2017 with tags .

Events>

<< Jul 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

LNG Pricing, Trading & Hedging Singapore

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

LNG Pricing, Trading & Hedging Houston

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >