Russian Gazprom's natural gas export revenues increased by 10.7% in the first quarter of this year compared to the same period of 2018 to reached $14 billion, according to the Russian Federal Customs Service late Monday.
The revenue increase was despite the 0.4% fall in the company's natural gas exports numbering 61.5 billion cubic meters in the January-March period.
Over the given period, the rise in oil prices contributed to the company's revenue rise.
Gazprom's natural gas production increased by 5.4% in 2018 compared to the previous year and reached 497.6 billion cubic meters while natural gas exports increased by 4% to 201.8 billion cubic meters.
Gazprom Export General Manager Elena Burmistrova said in an earlier statement that in line with the company's aim to uphold its share of natural gas in the European market, the company could keep export volumes for Europe at 200 billion cubic meters per year over the long term.
Gazprom, which is the world's largest producer of natural gas, meets about 30% of Europe's natural gas demand.
Reporting By E. Gurkan Abay in Moscow
Writing By Murat Temizer