Moscow — Russian energy giant Gazprom expects to pay dividend on 2021 results of more than 45 roubles ($0.6087) per share thanks to high oil and gas prices, Gazprom’s Deputy CEO Famil Sadygov said on Tuesday.
State-controlled Gazprom enjoyed record-high quarterly earnings in the July – September quarter, raking in almost $8 billion in net income thanks to rocketing gas prices in Europe, its key source of revenues.
Gazprom’s operations in Europe, including completion of the Nord Stream 2 gas pipeline, which is yet to be certified by Germany, have been in sharp focus amid a broader political standoff between Russia and the West.
Sadygov reiterated that Gazprom expects record-high earnings in 2021, which will be surpassed in 2022, when core profit of the Gazprom group, which includes gas, oil and power assets, is set to rise to over 4 trillion roubles, while net income is seen rising to more than 2.5 trillion roubles.
He said that the company expects its average price of export gas next year to exceed the 2021 level, while free cash flow is seen above 1 trillion roubles this year.
Gazprom also said on Tuesday that its board had approved investment of 1.76 trillion roubles, including 1.43 trillion roubles in capital expenditure, for 2022.
$1 = 73.9310 roubles
- Reuters (Reporting by Vladimir Soldatkin, Polina Devitt and Olesya Astakhova; Editing by Jon Boyle)
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