The net profit of the Russian company Gazprom at the end of last year amounted to 747 billion rubles ($9.47 billion), according to the financial report of the gas giant.
In 2021, Gazprom reported a net profit of 2,684 billion rubles ($35.13 billion), a decrease of 3.6 times from the previous year.
The company’s revenue was 7,979 billion rubles, 25 percent more than in 2021, reports Kommersant, noting that specialized agencies prepared the report for Gazprom. The company’s gross profit decreased by 12 percent to 3,210 billion rubles, and profit before tax totaled 1,020 billion rubles, compared to 3,200 rubles the previous year.
According to data from Kommersant, gas production in Russia fell last year by 11.8 percent to 672 billion cubic meters. The drop occurred due to the interruption of the supply of Russian gas to Europe, i.e., a reduction to their historically minimal level.
At the same time, sales costs increased to 4,769 billion rubles, which is 73.5 percent more than in 2021. The Russian Ministry of Finance drafted a legal amendment exempting Gazprom from paying increased tax on income from liquefied natural gas exports. Russian President Vladimir Putin signed the document on February 17.
Increase in production volume
Gazprom Director Alexey Miller announced in December last year that the company’s gas production volume will amount to 412.6 billion cubic meters by the end of 2022, of which 100.9 billion is intended for delivery to countries outside the CIS.
According to data provided by Nasdaq, Gazprom’s deliveries to Europe increased by six percent daily during the first 15 days of March compared to February. The data collected by the Reuters agency is based on calculations of Gazprom’s daily transit deliveries via Turkey and Ukraine.