First quarter net profit at Sakhalin Energy, a Sakhalin-2 project operator, amounted to 18.9 billion rubles ($630 million) to IFRS after a loss of 6.1 billion rubles in the same period last year, Gazprom, Russia's gas giant and a 50 percent shareholder of Sakhalin Energy, said on Thursday.
Gazprom's share of the company's net profit stood at 9.5 billion rubles, Gazprom said in a statement.
Sakhalin Energy's revenue quadrupled to 47.8 billion rubles in January-March 2010.
The other shareholders in the company are Royal Dutch/Shell with 27.5 percent, and Japan's Mitsui and Mitsubishi with 12.5 percent and 10 percent respectively.
Sakhalin Energy's first quarter profit 18.9 bln rbls after loss last year
Source : Neftegaz.RU