Gazprom profits triple in first quarter: company

2nd September 2010, Comments 0 comments

Russian energy giant Gazprom said on Thursday its profits for the first quarter of the year tripled to 10.6 billion dollars (8.3 billon euros) from a year earlier following strong sales worldwide.

Net income of the world's biggest natural gas producer climbed to 325 billion rubles from 103.7 billion rubles from the the same period last year, the company said in a statement.

The company's sales volumes jumped 21 percent to 162.2 billion cubic metres in the first three months to March, it said.

Sales rose 14 percent to 956.8 billion rubles and operating profit jumped 20 percent to 339.3 billion rubles, according to the statement.

The energy giant said that a drop in the prices of natural gas sales in Europe had been compensated by an increase in the total volume of gas sold worldwide.

© 2010 AFP

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