The export revenue of Russian energy company Gazprom increased year on year by 120% to $55.5 billion in 2021, according to the latest data of the Russian Federal Customs Service.
The data shows that the volume of natural gas exports through Gazprom pipelines increased by 0.5% in 2021 compared to the previous year, reaching 203 billion cubic meters.
Gazprom’s export price for 1,000 cubic meters of natural gas increased month on month by 2.7% in December last year to reach $517. The average export price last year was $273 per 1,000 cubic meters, marking an excess from the market fundamentals that determine a profit margin of between $90 and $100.
Russia’s oil export revenue also saw a significant annual increase of 51.8% to $110 billion in 2021.
Under Russian legislation, Gazprom, one of the world’s largest natural gas producers, is the only company authorized to export natural gas through pipelines.
Source: Anadolu Agency