Gazprom triples net income on higher gas flows, Sakhalin-2 deal

Robust sales: A Gazprom worker walking next to pipelines at a gas measuring station near Moscow. The Russian energy giant posted a net income of 1.04 trillion rubles (US$11.3bil) in the first six months of 2024 compared with 296.2 billion rubles a year earlier. — Reuters

SAINT PETERSBURG: Gazprom Group more than tripled its net income in the first half of the year thanks to higher pipeline gas exports, robust oil sales and its purchase of Shell Plc’s former stake in the Sakhalin-2 project.

The Russian energy giant posted a net income of 1.04 trillion rubles (US$11.3bil) in the first six months of 2024 compared with 296.2 billion rubles a year earlier, according to an earnings report published last Thursday.