Gazprom gas sales up

Russian gas giant Gazprom said its net sales of gas increased by 7% to RUB 1,586,671 million in the six months ended June 30, compared to the same period a year ago.

For the six months ended June 30 net sales of gas to Europe and other countries increased by RUB 58,777 million, or 7%, to RUB 883,196 million. This change was primarily due to an increase in average prices in RUB terms (including customs duties) by 7%.

Retroactive gas price adjustments were recognized in the consolidated interim condensed financial information for the six months ended June 30, 2013 as an increase in sales in the amount of RUB 73,430 million reflecting a decrease in previously accrued liability.

Net sales of gas to FSU countries increased by RUB 83,392 million, or 46%, to RUB 262,947 million. The change was due to an increase in average prices in RUB terms (including customs duties) by 32% and an increase in volumes of gas sold by 12%, or 3.3 bcm.

Net sales of gas in the domestic market increased by RUB 29,515 million, or 7%, to RUB 440,528 million. This is primarily explained by the increase in the average domestic price for gas by 14%, which was partially compensated by the decrease in volumes of gas sold by 6%, or 8.2 bcm.

Gazprom’s profit for the mentioned period totaled RUB 450,578 million, which is RUB 132,105 million, or 23%, lower compared to last year.

1 Russian ruble = 0.024701 U.S. dollars