The Russian energy giant generated a record profit for the first half of this year. From January to the end of June 2022, it earned 2.5 trillion rubles, which in the recalculation of $41.75 billion. A year ago, its profit amounted to just under a trillion rubles.
Dividends for the first time in almost 25 years
As well as generating a record half-year profit by Gazprom, the group also intends to pay a half-year dividend for the first time since 1998. The market is likely to welcome the information, especially after the group decided not to pay the dividend last year despite its high profit.
Decreasing debt
“Although we face sanctions pressure as well as hostile external conditions, Gazprom reported a record volume of both sales and net profit for the first half of 2022. At the same time, he managed to reduce debt to a long-time low,” Famil Sadygov, deputy managing director of Russian mining company Gazprom, said in a statement.
It did not hurt Gazprom so much that the West decided to gradually cut off Russian gas. On the contrary, taking advantage of the fact that natural gas prices are rising due to the binding supplies from Russia to the European Union. This compensates them handsomely for the declining volume of the commodity sold.
