Gazprom's Exports to Europe Rise 38%

Russian state-owned monopoly, Gazprom, received 38% more from its gas sales beyond the Former Soviet Union in the first nine months of this year than in the same period in 2017, reaching roubles 2.14 trillion ($32bn), it said November 30; the average price was higher as was the overall volume, which was up by 11.6bn m³.

Overall, sales rose 31%, to roubles 3.05 trillion for the nine months, and to Former Soviet Union countries sales increase by 17%, to rubles 235.6bn for the same period, again thanks to 12% more gas sold (3.0bn m³) and an increase of 4% in average ruble prices.

Net gas sales in the Russian Federation rose 8% to rubles 636bn for the nine months, following a 4% increase in volume (6.0bn m³) and a similar increase in the average ruble price (net of VAT).

Shareholders received 75% more in January-September this year than in 2017, a total of rubles 1 trillion. The earnings were reported according to international financial reporting standards and made no reference to the arbitration court ruling of February 2018, whereby Gazprom is to pay Ukraine $2.56bn.