Gazprom expands market share as prices fall

GAZPROM

The headquarters of Russian gas monopoly Gazprom in Moscow.

Russia increased its European natural gas market dominance last year, supplying more than half of Germany’s imports


Russian gas monopoly Gazprom announced better than expected results, reporting a net loss of 2 billion rubles ($26 million) in the three months to end-September compared with the same period the previous year, with the foreign-exchange loss of 400 billion rubles offsetting a 14% rise in revenue to 1.29 trillion rubles.

Russia’s falling currency supported Gazprom’s ruble-denominated revenue, helping to offset export prices that fell to near the lowest in a decade.

Most of the company’s cost...


This story is part of New Europe's Premium content.

To Read the Full Story, Subscribe or Sign In from the ↑ Top of the Page ↑
new europe join now