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Gazprom expects decline in revenues in 2020

Gazprom’s revenues from natural gas export plummeted 51.3% year-on-year in January - February 2020

MOSCOW, April 27. /TASS/. Gazprom notes a significant decline in revenues because of plummeted gas supplies, Deputy Chief Executive Officer of the Russian gas holding Vitaly Markelov said on Monday.

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"I understand that we are in a rather challenging situation now in terms of regional budgeting but I would like to say this year is fairly challenging for the company also. We will have a significant drop in respect of the revenue portion because the volume of gas supplies goes down," Markelov said.

According to data of the Russian Federal Customs Service, Gazprom’s revenues from natural gas export plummeted 51.3% year-on-year in January - February 2020 to $5.05 bln. Physical gas exports lost 24.6% in the reporting period to 32.5 bln cubic meters.

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