Gazprom’s profit jumps in Q2

Russian gas giant Gazprom saw its net profit rising more than five-fold in the second quarter of this year.

Moscow-based Gazprom posted a net profit of 259 billion roubles ($3.8 billion) as compared to 48 billion roubles in the year-earlier period, boosted by higher sales and increased oil and gas prices.

Total sales rose to 1.83 trillion roubles from 1.39 trillion roubles in the second quarter last year.

Gazprom’ sales of gas to Europe and Turkey increased by 34 percent to total 1.41 trillion roubles in the first six months of this year.

This was mainly due to the increase in average ruble prices and the increase in volumes of the gas sold by 8 percent, or 9.4 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.

 

LNG World News Staff

Share this article

Follow LNG World News

Posted on August 29, 2018

Events>

<< Aug 2019 >>
MTWTFSS
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 31 1

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 >