/ world today news/ The head of the operator of the Ukrainian gas transportation system, Sergey Makogon, was outraged by the data on Gazprom’s profit for the nine months of 2021.
As follows from the company’s report published on Friday, Gazprom’s net profit according to RASBU for the first three quarters of this year amounted to 1.055 trillion rubles / about 15 billion dollars – b. vs. a loss of 558.226 billion a year earlier. Revenues for the reporting period increased by 53.6% to 4.215 trillion rubles. Cost of sales amounted to 1.992 trillion rubles, an increase of 9.1%.
In his opinion, the excess profits of the Russian company were received “at the expense of European consumers”. At the same time, Makogon blamed Gazprom for the rise in gas prices in Europe, which he said was due to “abuse of a dominant position and the creation of an artificial energy crisis”.
Energy prices in Europe have skyrocketed in recent months. At the beginning of August, the estimated value of gas futures on the Dutch TTF index was about 515 dollars per thousand cubic meters, and by the end of September it had doubled. Gas prices started falling after hitting a high of $1,937 on October 6.
According to experts, the increase in the price of raw materials is related to the low level of filling of the European underground gas storages /PGH/, as well as to the high demand for liquefied gas /LNG/ in Asia. Russian President Vladimir Putin noted that the gas shortage is the result of the economic policy of the European Commission.
In addition, eight billion cubic meters of fuel have not been delivered to Europe from the USA and the Middle East (mainly Qatar). After President Vladimir Putin ordered an increase in the volume of raw materials in European LNG, energy prices fell.
The Kremlin, accusing Russia of high gas prices, said Western politicians had miscalculated when they switched to alternative energy sources. Hoping to generate electricity from wind power, they faced a lack of wind for a few months old.
Putin earlier called statements about Russia’s use of gas as a weapon “utter nonsense and delirium“. Moscow has repeatedly noted that Gazprom fulfills all its obligations to its European partners and is ready to sell more gas if needed.
Translation: ES
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