Russia’s Gazprom reported a fall in net profit of around 90% in 2020 to 135.3 billion rubles ($1.82 billion) due to lower prices and sales, a huge rise in costs and a foreign exchange-related loss.
– China’s gas consumption could double in the next 15 years, Viktor Zubkov, chairman of Gazprom’s board of directors, said as quoted by RIA Novosti news agency.
Nord Stream AG reliably supplies natural gas to European Consumers and fulfils all transport nominations since start of operations.
Gazprom approved the feasibility study for the project to build the Soyuz Vostok gas pipeline for supplies from Russia to China via Mongolia.
The real winter, which finally set in all over Europe in early 2021, gave the Russian gas supplier a good run for its money.
Chairman of Russia’s Gazprom Supervisory Board Viktor Zubkov stated with confidence that the Nord Stream 2 gas pipeline would be completed this year.
The Russian oil and gas giant closed the last year with a massive loss – the equivalent of $9.3 billion.
Germany and Austria are not the only ones lobbying for the Russian gas pipeline. The Dutch government has also been supportive of the Russians.
Work to lay Gazprom’s gas pipeline to Germany in Danish waters is due to start in late March. The mainline is expected to be ready by September’s end.
The Russian company increased its gas supplies to Europe by almost 30 percent in the first period of 2021.