Gazprom’s Q1 gas exports up 6.6 pct y/y

Russian gas giant Gazprom said on Monday its natural gas exports outside ex-Soviet European countries and including Turkey reached 54.4 billion cubic metres (bcm) in the first quarter, up by 6.6 percent from a year earlier.

Gas output in the January to March period rose 5.4 percent to 133.8 bcm, including 46.5 bcm in March, a six-year high for the month, due to cold weather.

The Russian company also announced its financial report for 2017. Gazprom 2017 net profit fell 4.1 times reaching rubles 100.298bn ($1.744bn) in 2017, compared to 2016, it announced April 2.

According to the company’s accounting report under Russian Accounting Standards (RAS), Gazprom’s revenue (excluding value-added tax, excises and mandatory payments) increased by 9.6%, to rubles 4.3 trillion.