The Profit of "Gazprom" Reached a Three-year Peak

Business | May 31, 2018, Thursday // 09:30|  views

Financial Tribune

The profit of Russian energy giant Gazprom has reached its highest level in three years thanks to increased blue-fuel sales in Europe. Bloomberg reported.

The unexpectedly cold weather on the Old Continent, from Germany to the UK, has boosted gas sales in the region by 8% in the first three months of this year. This, as well as higher gas prices, has supported the profit growth of the Russian company.

Gazprom's net profit grew to 372 billion rubles ($ 5.93 billion) in the first quarter of the year from 333 billion rubles a year ago. Revenues, in turn, amounted to a record $ 2.14 trillion rubles ($ 34.25 billion).

It can not be ruled out that the strong results put pressure on the company's management to increase the dividend - something she refuses to do as it tries to boost its investment in projects both in Europe and in Asia.

Russian gas giant is one of the companies implementing the project "North Stream" 2, which will send Russian natural gas directly to Germany via the Baltic Sea.


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Tags: profit, Gazprom, Russian energy


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