The natural gas export revenue of Russian energy company Gazprom decreased by 41.8% in the January-November period of 2020 to $22 billion compared to the same period of 2019.
According to Russian Federal Customs Service data, Gazprom's natural gas export volume through pipelines decreased by 10.5% in the first 11 months of last year, reaching 178.4 billion cubic meters compared to the same period of 2019.
Over the same period, the company's gas export revenue decreased by 41.8% to $22 billion.
On the other hand, in November last year, Gazprom's export price for one thousand cubic meters of natural gas increased by 7% to $155 compared to the previous month.
Analysts affirm that the price for one thousand cubic meters of natural gas must be above the $90-$100 threshold for the company to make a profit from natural gas exports.
- Oil export revenues
Russia's oil export revenue decreased by 41% in the January-November period of 2020 to $66.3 billion compared to the same period of 2019.
According to Russian Federal Customs Service data, the country's oil export volume fell by 11% to 220 million tons for the first 11 months of last year.
During this period, Russia's oil export revenue decreased by 41% to $66.3 billion.
The country's income from oil exports dropped 6% last year compared to the previous year, declining to $121 billion.
Oil and gas exports make up about 40% of the federal budget in Russia.
Reporting By E. Gurkan Abay in Moscow
Writing By Murat Temizer
Anadolu Agency
energy@aa.com.tr