Gazprom sees $5.6B loss in 1st half of this year

Russian energy giant Gazprom saw a loss of 480.6 billion rubles ($5.6 billion) in the first half of this year, according to its financial results statement released Tuesday.

The company’s revenue, on the other hand, rose 6.7% to 2.9 trillion rubles in the January-June period, compared to the same period last year.

The firm posted 629 billion rubles of net loss in 2023 as the sanctions hit its exports to Europe, after it saw a net income of 1.2 trillion rubles in 2022.

Gazprom is trying to raise its natural gas supply in the domestic market and to China to offset its revenue loss in Europe, and is increasing investments in liquefied natural gas.

• China
• Russian energy giant Gazprom