The world’s largest natural gas supplier Gazprom (OAO Gazprom, the “Russian gas”) on Sept. 2 announced that as at 30 June of this year’s first quarter fiscal year 2010, the made up 314 630 000 000 rubles (about 10.22 billion U.S. dollars) in profits over last year’s 119.14 billion rubles jumped 164.8 percent.

Russian gas, said cold weather in Europe and Russia than to stimulate increased demand for natural gas, the business also helped diversify the company’s development. Rather, the Russian gas has gas prices to rebound by keeping a good opportunity, Zhubu promote the diversification Zishenyewu, is Zheyi strategy, so that Gazprom fell in Tian Ranqi sales Shouru proportion 2 / 3 of the following circumstances , have the capacity to produce a stunning report card.

Natural gas prices rebound

According to a statement released by the Russian gas, the company in April to June this year, the profits made larger than the economists had expected 3,000 billion rubles in value; the same time, the quarter net of consumption tax, customs duties and VAT net sales over the same period in 2009, up 14% 837 160 000 000 rubles to 956.82 billion rubles and 915 billion rubles higher than the same expectations.

In this regard, the Russian gas that the company’s products are mainly export market is the cold weather an important driving force for profit rose; the data showed, the Russian users in the fiscal first quarter to bring the 75 billion Russian gas rubles in revenue, up 47%. At the same time, the Russian gas first quarter, slower growth in operating costs, up 12% to 623.5 billion rubles; and its investment in expenditure over the same period from 268.4 billion rubles from 19.0 billion rubles fell sharply. In addition, the Russian gas also reversed the poor exchange rate over the same period last year, suffered 126 billion rubles of losses, the quarter obtained from the poor exchange rate of 520 billion rubles in revenue.

Moscow Bank expert Dennis Borisov said, compared to the above factors, natural gas prices rebound to play a more basic role. Earlier, Russian Deputy Chief Executive Officer gas (CEO) Alexander Medvedev said in late August, gas prices will return to 2012 levels before the crisis, which is about twice the current price of natural gas in Europe is about.

The Platts Huatai Wei, senior director of business development in Asia is also a recent interview with the China Securities newspaper reporters pointed out that over the past few years despite the low level of market prices, but prices still higher than a year ago.

Diversification

According to the Russian gas statements, the European demand for natural gas 1 / 4 of gas from Russia, although the company in 2009 in the European gas market share of alternative energy sources due to a substantial decline in inflows, Medvedev is expected that this percentage even in 2020 will continue to shrink to 30%; is because of this, the first quarter of this fiscal year, the Russian gas to European gas sales revenues decrease 22% of the data and did not cause any fears.

In this regard, Borisov stressed, in fact, is a diversified business development to help the Russian gas: natural gas transportation, electricity and heat sales to bring substantial revenue to the company. According to Russia’s gas earnings, the company obtained from these two categories of business net income grew by 96% and 60% to 25 billion rubles and 950 billion rubles. In contrast, natural gas sales accounted for only 64% of revenues. The share of gas in Russia and the proportion of income is from the fiscal 2009 first quarter decreased 73% year after year.

Russian media is that the proportion of the decline in natural gas sales revenue does not mean that the absolute size of the decline, the Russian gas-quarter sales over last year also received a 37% increase. Zai this starts to continue to vigorously Tuijin fiscal years, business diversification strategy, Yi Fangmian yes Yin Wei Chi Xu natural gas price of gas rise to the Russian business diversification provide important safeguards, Jin Guan Jiao current price is still the first fiscal quarter 2009, up 36 percent of spreads; the other hand, successive encounter with the Russian gas cut gas prices, customer requirements in Europe are closely linked.

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