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Gazprom expects significant revenue growth in 2022 — CEO

Oil&Gas Materials 31 August 2022 17:32 (UTC +04:00)
Gazprom expects significant revenue growth in 2022 — CEO

Gazprom expects a significant increase in revenue by the end of 2022, the company’s CEO Alexey Miller said at a meeting dedicated to the Day of Oil and Gas Industry Workers, Trend reports with reference to TASS.

"Despite the decline in gas supplies to foreign markets, to non-CIS markets, our calculations absolutely clearly show that the financial results of Gazprom, our revenue for 2022 will be significantly higher than in 2021," he said.

According to Miller, such a financial result suggests that the company is securely provided with cash flow for the implementation of strategic investment projects.

Earlier Deputy CEO of Gazprom, Famil Sadygov, said that, despite sanctions pressure and an unfavorable external environment, in the first half of 2022, the Gazprom group posted record revenues and net profit under IFRS while reducing net debt and the level of debt burden to the minimum values. The company’s net profit amounted to 2.5 trillion rubles ($41.3 bln).

Gazprom's revenue in 2021 increased by 62%, reaching 10.241 trillion rubles ($170 bln), which is also an all-time record for the company.

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