Gazprom’s revenues surge on rising natural gas prices

Export proceeds of Russian state-run energy giant Gazprom saw an enormous increase of 73% from January to June 2021 compared to the same period a year ago, according to Russia's Federal Customs Service.

In monetary terms, the growth amounted to $20.01 billion, while the physical volume of exports totaled 108.4 billion cubic meters, marking a growth of 15.3%.

In June, Gazprom exported $3.556 billion-worth of natural gas – an increase of 11.6% on the previous month. While the physical volume of exports remained the same, at 15.7 billion cubic meters, the rising cost for natural gas accounted for the growth in revenue.

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According to the data tracked by the customs service, the average export price of Russian gas in June surged to $226.5 per 1,000 cubic meters, compared to $199.7 in May and $185.5 in April.

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