Page 148 - RusRPTFeb23

9.2 Major corporate news 9.2.1 Oil & gas corporate news
● Gazprom
Gazprom's net profit for 1H 2022 amounted to RUB2.514 trillion, which exceeds the group's total profit for the previous 2 calendar years.
The results of the Gazprom Group’s work under IFRS for the first half of the year are usually summed up by the company in September. However, Gazprom, like many large Russian companies, in the face of sanctions pressure on Russia, refused to publish reports.
The silence was broken by Rosneft, which reported on September 15, 2022 some of its financial results for the first half year 2022 under IFRS, incl. on net income growth attributable to shareholders, up 13.1% compared to 1H 2021 ., up to 432bn rubles.
Given the high prices in the European gas market, Gazprom's key financial indicators for 1H 2022 showed a much sharper increase. The average price of Gazprom 's gas exports to non-CIS countries in 1H 2022 was more than 3.5 times higher than the price for the same period in 2021.
it was indicated that the average price of gas supplied to Europe and other countries (excluding the countries of the former USSR), including excise and customs duties, amounted to 224.4 US dollars/1000 m 3 .
Based on this indicator, in the first half of 2022, the average price of Gazprom's gas exports to non-CIS countries can be estimated at $785.4/1000 m 3 .
Previously, Gazprom reported a record average export price in 4Q 2021 of $517/1,000 m 3, which has now been surpassed.
Gazprom's net profit for the first half of 2022 amounted to 2.514 trillion rubles, which is not only 2.6 times higher than the figure for the first half of 2022half of 2021, but also more than the total profit of the Gazprom Group for the previous 2 calendar years.
It should be noted that 2020 was difficult for the company due to the impact of the coronavirus and the company recorded only 162.407bn rubles. net profit, and the figure for 2021 amounted to 2.159 trillion rubles, but formally the result of the first half of 2022 is indeed higher than in 2020 and 2021. taken together.
Gazprom Group's EBITDA for 6M 2022 amounted to RUB3.052 trillion, which
148 RUSSIA Country Report February 2023 www.intellinews.com