Gazprom catches analysts off guard

MOSCOW, January 19, 2017 – Gazprom reported some USD 1.7 billion in earnings over the third quarter of 2016 on Thursday, beating analysts’ forecasts.

Measured over the first nine months ended September 30, profits of the Russian gas behemoth were up 5% year-on-year. Net income for for the period came out at some USD 12.4 billion.

Gazprom sold 322.6 bcm (11.4 tcf) during the first nine months of 2016, 6.4% more than in 2015. The majority of the company’s sales volume, 160.9 bcm (5.7 cf), was shipped to Europe and other countries, the only markets that reported an increase in demand.

Sales were up around 28%. Gazprom sold 139.7 bcm (4.9 tcf) domestically, close to 8% less compared with the first nine months of 2015. The remainder, 22 bcm (777 bcf), was transported to former Soviet Union countries.

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