The head of the Russian “Gazprom” Alexei Miller revealed the very good results achieved by the company in the first half of this year, and said that record dividends would be paid on the shares.

The head of the Russian gas giant also confirmed today at a meeting with oil and gas industry workers that strategic investment projects are reliably financed with cash.

“The results for the first half of the year are very, very, very good, and in light of this, record profits will be distributed. Of course, this financial result allows us to say that we have received a reliable cash flow for the implementation of our strategic investment projects,” said Miller.

The official added that Russian Gazprom continues to increase gas supplies from Russia to China via the Power of Siberia route, as it has increased by 60% in the first eight months of 2022.

“In connection with the work we are doing on the domestic market, we are constantly working to increase supplies via the Power of Siberia gas pipeline to China. And this year we set records several times, exceeding contractual obligations,” he said.

The official also indicated that Gazprom had begun work on mapping and designing a new route (Power of Siberia-2) for gas supplies from the Russian Far East to China.

He considered that the Chinese market is the most dynamic market in the world and will be so for the next twenty years. According to expectations, the growth of gas consumption in China will be 40% of the growth in global gas consumption in the world. .

He also pointed out that global demand for gas fell by 40 billion cubic meters in eight months of this year, almost 30 billion of which came from the European Union, accounting for 73% of the decline in global demand.

Source: Prime

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