According to its own statements, state-controlled Russian gas company Gazprom made record profits in the first half of the year despite Western sanctions related to the war in Ukraine. The bottom line was a result of 2.5 trillion rubles (equivalent to 41.63 billion euros), the company announced on Tuesday. In addition, Gazprom now wants to pay an interim dividend. Gazprom had also made record profits last year.
By May, Gazprom had cashed in on its plans to pay a record dividend based on 2021 results, failing shareholders for the first time since 1998. Originally, shareholders were supposed to receive 52.53 rubles per share in the past year. That would have been the highest payout in the company’s history.
Gazprom plans to pay 51.03 rubles per share for the first half of the year. Shareholders must approve the proposal by September 30.
Limited gas deliveries to Europe
In 2021, Gazprom made a record profit of 2.09 trillion rubles (about 27.5 billion euros) thanks to soaring oil and gas prices. Gazprom has restricted or even stopped gas supplies to several EU countries following sanctions. The group has also reduced deliveries to Germany.
Gazprom cites technical reasons as justification. Germany has described this as a pretext for a politically motivated decision.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
