Russia’s Gazprom expects revenues to be at around $28b this year if the rouble rate averages 65 per US dollar, Deputy Chief Executive, Alexander Medvedev, told reporters according to Reuters.
However, he did not specify if he was referring to export revenues or in total. Gazprom may export over 165bcm of gas to Europe this year, according to its forecast.
It was recently reported by Natural Gas Europe that Gazprom’s income from exports fell 29% in the Q1 of 2016 year-on-year, despite selling more gas, and a company official said there was almost no benefit now from exports versus sales at home.
Meanwhile, the Deputy Chairman of Gazprom’s Board Valery Golubev announced on May 12 that Gazprom faces difficulties with implementation of the investment program for 2016. He said that the profitability of exports is almost equal to the gas sales domestically.