Gazprom net gas sales up 10 pct

Russian gas giant Gazprom said its net sales of gas increased by 10 percent to RUB 1,001,609 million in the first quarter, as compared to the same period a year ago.

In the three months ended March 31, net sales of gas to Europe and other countries increased by 12 percent to RUB 542,993 million, Gazprom said in a statement on Monday.

This is primarily explained by the increase in average prices in RUB terms (including excise tax and customs duties) by 37 %, according to Gazprom.

The change is primarily due to increase in exchange rate, which is partially compensated by the decrease in volumes of gas sold by 16 %, or 7.6 bcm.

Gazprom’s profit totaled RUB 382,112 million, up by 71 percent as a result of a weaker ruble.

1 Russian ruble = 0.015522 U.S. dollars

LNG World News Staff; Image: Gazprom