Moscow: Russian gas giant Gazprom on Monday said its net income rose to a record 582 billion rubles ($7.8 billion) in the third quarter on the back of soaring gas prices in Europe.<\/p>\n
Europe receives a third of its gas supplies from Russia and has seen energy prices surge to record highs as economies have come back online after the end of pandemic lockdowns.<\/p>\n
In a statement, Gazprom Deputy Chief Executive Famil Sadygov linked the company’s record quarterly profits to Europe’s gas crisis and said he was expecting even better results in the fourth quarter.<\/p>\n
“Clearly, the price of our supplies to Europe will be significantly higher in the fourth quarter, which will have a positive effect on results for the entire year,” the statement said.<\/p>\n
Some Western critics have accused Moscow of intentionally limiting gas supplies to Europe and driving up prices in an effort to hasten the launch of Nord Stream 2 — a controversial pipeline to Germany in which Gazprom holds a majority stake.<\/p>\n
Russia denies the claim and earlier this month said it began implementing a plan to restock European gas storage facilities.<\/p>\n","protected":false},"excerpt":{"rendered":"
Moscow: Russian gas giant Gazprom on Monday said its net income rose to a record<\/p>\n","protected":false},"author":5,"featured_media":12389,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-12388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"yoast_head":"\n