OREANDA-NEWS. At the end of 2018, the company's profit attributable to its shareholders amounted to 1.456 trillion rubles against 714.3 billion rubles a year earlier. Gazprom’s revenue from gas sales for the year grew by almost 1 trillion rubles.

Gazprom completed the year 2018 with a record profit, it follows from the company's materials. According to a report prepared in accordance with International Financial Reporting Standards (IFRS), in 2018 Gazprom’s net profit attributable to its shareholders amounted to RUB 1.456 trillion, more than double (104%) than the previous year 714.3 billion rubles. 

Such a sharp increase in profits occurred against the background of the company's revenue growth. At the end of 2018, Gazprom’s revenues from sales increased by almost 1.7 trillion rubles, including gas sales - by 963 billion rubles. In 2018, Gazprom’s revenues from gas sales amounted to 4.3 trillion rubles. (+ 29% to the previous year), its growth in the report is mainly due to the increase in average prices in the Europe and other countries segment. The average ruble prices for gas in this region for the year increased by 33%, dollar - by 23%.

The increase in the total revenue was also affected by the increase in the average prices for crude oil and gas condensate; for the year, the revenue from their sale increased by 36% or by almost 195 billion rubles. The report also emphasizes that the increase in oil prices has led to an increase in mineral extraction tax payments. The growth of these payments was named one of the main reasons for the increase in operating expenses of the company, which increased by 484 billion rubles compared to the previous year. Already this year Gazprom could change the system of work with investment projects by 1.3 trillion rubles.