Russia's Gazprom 2005 net profit rises 49% to $11.75 billion

Moscow (Platts)--7Jul2006

Russia's Gazprom Friday reported its net profit rose 49% year-on-year to
Rb315.9 billion ($11.75 billion), and sales revenues increased 42% to Rb1.38
trillion in 2005, on high prices and consolidation of oil firm Sibneft.
Net sales of natural gas increased 35% to Rb1.04 trillion in the year
ended December 31 2005 compared to the year ended December 31 2004, Gazprom
said in a consolidated financial report under International Accounting
Standards.
Net sales of natural gas to Europe climbed 38% to Rb619 billion in 2005.
"This was primarily due to higher average prices for gas sold to European
customers and the 2% increase in the volume of gas sold," Gazprom said.
Gazprom sold 156.1 billion cubic meters of gas to Europe last year, up
1.8% from 153.2 billion cubic meters in 2004.
"A significant factor affecting the consolidated financial statements for
2005 is the acquisition of Sibneft, recently renamed Gazprom Neft, in October
2005. The operational results of Sibneft and its subsidiaries were included in
the group's consolidated financial statements from the date when control over
Sibneft was established," Gazprom said.
--Anna Shiryaevskaya, anna_shiryaevskaya@platts.com


 

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