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Gazprom increased its Q1 net profit by 44 %

Gazprom increased its Q1 net profit by 44 %

St.Petersburg, May 30 - Neftegaz.RU.
Russian gas monopoly Gazprom reported a net profit of 535.9 billion RUB ($8.2 billion*) between January and March 2019, compared with 371.6 billion RUB during the same period last year.

Sales increased by 7 % to 2.29 trillion RUB. "The increase in sales was mainly due to an increase in sales of gas to Europe and other countries and sales of crude oil and gas condensate and refined products", Gazprom statement said.

Gazprom sold 13% less gas in its key export markets in Q1 this year compared with the same period of 2018. The company supplies around one third of the EU's total consumption

The company's gas sales to Europe and other countries declined in the Q1 to 62.4 billion cu m (bcm) from 71.5 bcm, compared to the same period of the prior year.  

The volumes of gas shipped to the Former Soviet Union countries declined to 12.2 bcm from 14.1 bcm in Q1 2018.

*$1 = 64.9 RUB

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