Gazprom to pump 9 bcm of gas into underground gas storage facilities in Europe

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AK&M 17 September 2020 17:49

Gazprom will pump 9 billion cubic meters of gas into underground gas storage facilities in Europe, according to a statement by Alexey Miller, Chairman of the Management Committee of PJSC Gazprom, at the recent meeting with Russian President Vladimir Putin, the transcript of which is published on the Kremlin website.

"Preparations for the autumn-winter period are strictly on schedule. By the beginning of the gas withdrawal period, the operational gas reserves in Russia's underground storage facilities will amount to 72.3 billion cubic meters. We will maintain the all-time high daily rate of gas offtake at 843.3 million cubic meters. Gazprom will pump nearly 9 billion cubic meters of gas into underground storage facilities in Europe," Gazprom CEO said.

These steps will allow Gazprom to fully meet consumer needs during the winter, Alexey Miller added.

PJSC Gazprom (tax number: 7736050003) is the world's biggest gas company. Its authorized capital is RUB 118.367 billion and consists of 23,673,512,900 common shares with a face value of 5 rubles. The company has several hundred thousand shareholders in Russia and abroad. The Russian Federation owns more than 50% of Gazprom's shares. The Bank of New York Mellon is the depositary of Gazprom's ADR program.

IFRS profit of PJSC Gazprom for the first half of 2020 dropped by almost 95% to RUB 45.46 billion from RUB 878.644 billion a year earlier. Revenue from sales decreased by almost 29% to RUB 2.903 trillion from RUB 4.077 trillion, profit from sales by 75% to RUB 189.985 billion from RUB 780.878 billion. Loss before tax was RUB 16.806 billion against a profit of RUB 1.125 trillion.