Gazprom has reported its financial results under IFRS for the first half of 2012. Gazprom’s sales (net of VAT, excise tax and customs duties) decreased by 5%, or RUB 116,705 million, to RUB 2,230,366 million in the six-month period ended June 30, 2012 compared to H1, 2011, the Company press release said.
Gazprom is a global energy company. Its major business lines are geological exploration, production, transportation, storage, processing and sales of gas, gas condensate and oil, as well as generation and marketing of heat and electric power.
Gazprom holds the world’s largest natural gas reserves. The Company’s share in the global and Russian gas reserves makes up 18% and 70%, respectively. Gazprom accounts for 15% 78% of the global and Russian gas output, accordingly.
Gazprom is the only producer and exporter of liquefied natural gas in Russia. The Company’s share in the global LNG output stands at 5%.
The Company is among Russia’s five largest oil producers and it is the largest owner of power generating assets in the country. These assets account for 17 per cent of the total installed capacity of the national energy system.