Russian energy giant Gazprom reported Tuesday a net loss of 10.8 billion rubles, approximately $131.2 million, for the first half of the year.
Gazprom's revenues rose by 4.2% year-on-year to reach 3 trillion rubles in the first six months of 2025, according to the company's financial statement.
Despite the increase in revenues, the company ended the first half in the red.
Gazprom, which posted a net profit of 1.2 trillion rubles in 2022, has seen a sharp decline in natural gas exports to Europe due to sanctions.
The company reported a loss of 629 billion rubles in 2023 and a further 1.07 trillion rubles loss in 2024.
Seeking to offset revenue losses in Europe, Gazprom is ramping up natural gas supplies to China and the domestic market, while also expanding investments in liquefied natural gas (LNG) projects.
Reporting by Emre Gurkan Abay in Moscow
Writing by Humeyra Ayaz
Anadolu Agency
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