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Gazprom reports 1Q16 net income fall

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LNG Industry,

Gazprom has announced a 5.2% fall in net income in 1Q16 to 362.3 billion roubles compared to 382.1 billion roubles in the corresponding period of last year.

The company’s total sales increased 5.4% to 1.74 trillion roubles, while its net debt balance decreased 14%.

Gazprom’s total net sales of gas and crude oil increased by 7% and 26.9%, respectively.

A statement from the company confirmed that it has increased its sales to the European market by 49%, driving enhanced income. Gazprom also outlined its plans to continue to be a major player in the global gas market through both pipelines and LNG.

Edited from press release by

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