The state-own gas giant Gazprom’s share of the European gas market increased to 27 percent from 24 percent in 2010, the company reports on Friday. This is also the main reason for the boost in earnings last year.
Profit inside Russia itself had only a marginal growth by 16 percent. Gazprom explains this with primarily the increase in the average domestic price for gas established by the Federal Tariffs Service.
Net sales of crude oil and gas condensate increased by 20 percent year-on-year, mainly due to increased oil prices.
On Thursday, Russia’s Economic Development Ministry presented the forecast for the country’s economical growth in the years to come. A growth of 3,4 percent this year will expand to 4,7 percent growth in 2015, according to the positive outlook.
The big question debated was whether the new government to be formed after Putin takes over the presidency in May will choose to proceed with developing innovations or continue to rely on income from Russia’s petroleum sector, the Moscow Times reports.
In a conservative scenario, Russia will continue to rely heavily on oil and gas in its economic development.
