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Friday, 28 April 2017

Gazprom targets increased gas sales in Europe

Gazprom targets increased gas sales in Europe:

"Gazprom, the world’s largest gas producer, on Thursday reported a 21 per cent rise in profit in 2016 as the Russian energy company signalled it would continue to target increased sales in Europe despite rising competition.

Record demand from Europe helped state-controlled Gazprom shrug off a fall in gas prices last year, and the company is pushing ahead with two new large pipelines to boost shipments to the EU.

Gazprom, which has been beset by political pressure and legal challenges in the EU over allegations that it abuses its role as the region’s leading gas supplier, reported net income of Rbs951.6bn ($16.7bn) for 2016, up 21 per cent compared with 2015 and exceeding analysts’ estimates."



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