Gazprom Announced Its Q1 Results

Russian energy company Gazprom's net profit rose to 2.09 trillion rubles, up from 135 billion rubles a year earlier, in 2022, reaching the highest level in history.

Gazprom announced its Q1 Results. Standing out with its pressure on the obligation to pay in rubles, Gazprom announced that company revenues increased by 62 percent compared to the previous year and rose to 10.2 trillion rubles. In the said period, the company's net profit rose from 135 billion rubles to 2.09 trillion rubles (approximately $29 billion), breaking a historical record. In the statement made by the company, it was stated that the investment amount of the company will increase at a record level this year, reaching the level of 2.3 trillion rubles. Gazprom, the world's largest natural gas producer, meets about 40 percent of Europe's natural gas needs. Natural gas prices in Europe reached record levels last year due to the rapid opening of economies after the coronavirus epidemic. In addition, Gazprom, which is trying to reduce Europe's natural gas trade due to the war in Ukraine, announced that it has stopped natural gas shipments to Poland and Bulgaria as of yesterday.