Gazprom’s net profit climbs to nearly $17 billion, LNG sales up 4 pct

Image: Gazprom

Russian energy giant Gazprom said Thursday its net profit rose 21 percent last year as it benefited from lower costs and a stronger rouble.

Moscow-based Gazprom posted a net profit of 951.64 billion roubles ($16.7 billion) in 2016 as compared to 787.06 billion roubles the year before.

Gazprom said it has reduced its net debt by 7 percent in 2016 to 1.93 trillion roubles.

This decrease resulted from lower borrowings denominated in Ruble terms due to the depreciation of US Dollar and Euro, it said.

Gazprom’s natural gas supplies to Europe and Turkey reached an all-time high of 179 billion cubic metres last year.

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.

LNG sales rise

Gazprom’s sales of liquefied natural gas (LNG) rose by 4.1 percent year-on-year to 3.71 million mt (4.94 bcm), the company said.

In 2016, Japan remained the key destination for LNG supplies in Gazprom’s trading portfolio, accounting for about 45% of total LNG sales.

LNG shipments to Taiwan increased considerably, while LNG cargoes to Mexico and the UAE resumed for the first time after a long interruption, the company added.

 

LNG World News Staff

Share this article

Follow LNG World News

Posted on April 27, 2017 with tags .

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 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

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 >