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. Last Updated: 07/27/2016

Gazprom's Export Revenues Hit Peak

Gazprom's revenues minus value-added and excise taxes soared 20 percent year on year to 464 billion rubles ($15 billion) in 2001, with export revenues reaching a record high $14.5 billion, a member of Gazprom's executive board said.

It was not clear which accounting standards were used, but analysts said the calculations were likely to have been made under Russian accounting rules.

The boost in export revenues ensured growth in the company's revenues overall, the board member, Alexander Semenyaka, told the Second Annual Russian Gas Forum on Thursday, Prime-Tass reported. Gazprom is expected to report a net profit of about 100 billion rubles for 2001, up from 48.5 billion rubles in 2000, according to previous statements. Net profit per share is to double to 4 rubles per share.

Semenyaka also said that Gazprom significantly increased the share of cash payments for gas supplies by domestic consumers and that cash payments accounted for 83.3 percent of receivables in 2001, up from 39 percent in 1999.

(Reuters, MT)