Gazprom Export Revenues down 31.1% in Q1-3

Russian Gazprom’s revenues from gas export decreased by 31.1% to $21.58bn in the first nine months of 2016, the Federal Customs Service statistics reported. In contrast, export volumes over the period rose by 6.1% to 139.5bn m³ and are on course to be a record this year.

Supplies to countries beyond the Commonwealth of Independent States (CIS) reached 116.3bn m³ with 11.8% growth year-on-year, and CIS countries received 23.3bn m³, which indicates a 15.3% decline during three quarters.

The average price of gas exports in the first nine months of 2016 amounted to $154.7/'000 m³, about 35% less than the same period in last year, when the figure stood at $238.3/'000 m³.

The CIS comprises the former USSR excluding Ukraine, Turkmenistan, Estonia, Latvia and Lithuania.

Ilham Shaban