Gazprom Nine-Month Profit Soars on Higher Gas Sales, Prices

By Jaime Llinares Taboada

Gazprom PJSC on Monday reported improved earnings for the first nine months of 2021, as gas sales and prices soared from a year earlier.

The oil-and-gas company, which is majority owned by the Russian government, made a pretax profit of 1.946 trillion rubles ($25.75 billion), swinging from a RUB327.02 billion loss a year earlier.

Adjusted earnings before interest, taxes, depreciation and amortization more than doubled to RUB2.214 trillion, reflecting a 77% increase in total gas sales.

Gazprom said gas sales to Europe and other countries, excluding Russia and former Soviet Union countries, more than doubled to RUB1.326 trillion as gas volumes rose 14% and ruble-denominated prices soared 95%.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

November 29, 2021 03:36 ET (08:36 GMT)

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