Gazprom profits higher since last winter

Scotland News.Net
Thursday 2nd September, 2010

The cold winter in the first three months of the year has boosted the profits of Russia’s Gazprom.

Gazprom, which supplies about one quarter of all Europe’s gas, has reported a threefold surge in profits over the cold winter months, when demand was high.

Net profit has come in at came in at $10.6 billion, with sales volumes to Europe rising by 37%.

The Russian energy company also said revenues were boosted by foreign currency movements.

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