Gazprom 3Q14 results
Published by Elizabeth Corner,
Senior Editor
World Pipelines,
Gazprom announces its 3Q14 results.
Gazprom is one of the world’s largest vertically integrated global energy companies, in terms of reserves, production and market capitalisation. It has the unique combination of an enormous reserves base that limits the need to expend capital on exploration compared to its international peer group; an integrated transportation system and finally the ability to service multiple continental gas markets – Europe and Asia – by both pipeline and LNG exports.
Operational highlights
- Core European export revenues stable over 9 month period, all be it with lower volumes on a QonQ basis.
- Significant increase in revenues from refined products, heat and electricity.
Financial highlights
Outlook
Against the backdrop of challenging market conditions of lower oil prices and a devalued rouble, these results demonstrate the need for Gazprom’s ongoing diversification of income streams through expansion of core gas exports into new markets – primarily APAC and Turkish – and continuing its growth in LNG, crude oil, refined products, power etc. Diversified growth will be based on the strong foundation of its long term core export sales to long term European clients.
Adapted from press release by Elizabeth Corner
Read the article online at: https://www.worldpipelines.com/business-news/29012015/gazprom-3q14-results/
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