Gazprom no longer discloses its average export price, as well as the total volume of gas exports.
According to the results of the first half of 2023, the gas business Gazprom became profitable. This happened for the first time since the coronavirus pandemic and for the second time in 25 years. businessman after the reporting review Gazprom.
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It is indicated that the reason for this situation in the company is a sharp decrease in income from gas exports. The reduction in gas transportation of the gas transmission system also had an impact, along with the increase in the capacity of the system itself after the commissioning of gas pipelines that did not work for Nord Stream-2.
“A sharp decrease in income from gas export sales against the background of rising costs and capital investment led to the fact that the gas business Gazprom – the root element of the group’s activity – became unprofitable in the first half of the year,” the newspaper noted.
It was also predicted that the situation in Gazprom, is likely to worsen as gas prices in Europe fall further.
On August 28, the monopolist disclosed its financial statements in accordance with International Financial Reporting Standards (IFRS) and accounting statements in accordance with Russian Accounting Standards (RAS). According to the latter, the net loss of the main company in the first half of the year reached 255 billion rubles.
Group under IFRS Gazprom received 296 billion rubles of income, but in fact this figure was given exclusively by the oil business – Gazprom Neft, earned in the first half of the year 304 billion rubles of profit.
Income of PJSC Gazprom fell by 65% to 2.74 trillion rubles, including direct income from the sale of gas fell 2.1 times to 1.7 trillion rubles.
Wherein Gazprom the average export price as well as the gas export volume were not disclosed. According to media estimates, exports to Europe in the first half of the year may reach about 16.1 billion cubic meters, to Turkey – 9 billion cubic meters, to China – 11.1 billion cubic meters.
I knew that before Gazprom decided not to pay dividends for 2022. This happened due to the fact that the annual profit of the gas monopoly fell by 41%.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.