Gazprom gas export earnings grow 5% to $12 billion in January-February - Customs Service

Russia’s gas giant Gazprom in the first two months of the year exported to the former Soviet republics (exclusive Belarus and Kazakhstan) and the rest of the world natural gas total worth of $12.4 billion, the Federal Customs Service underlines in its report made public on Monday, April 7.

According to the Customs Service, Gazprom gas export revenue grew by 4.8% in January-February 2014, as compared to the same period of the preceding year.

In the period under review, the Russian gas giant exported 37.4 billion cubic metres of natural gas, as comparing with 34.3 billion cubic metres in January-February 2013, the document wrote, adding that the company’s gas export to former Soviet republics was at 11 billion cubic metres, while the export to the rest of the world amounted to 26.4 billion cubic metres.

The management board of Russia’s gas producer Gazprom suggested paying dividends for 2013 in the amount of 7.2 roubles per share, a 20.2% increase from the previous year.

The company will earmark 25% of its net income received in 2013, adjusted according to the Russian accounting standards, for the payment of dividends.

The proposal will be discussed at Gazprom’s annual shareholders’ meeting on June 27.

The company’s net income in 2013 according to Russian accounting standards increased by 12.9% year on year to 628.3 billion roubles.

Dividends for 2012 were paid in the amount of 5.9 roubles per share. In 2011, Gazprom paid 8.9 roubles per share in dividends.