Russian giant Gazprom has released the financial information relating to the performance of the first six months of the year – ending June 30, 2013.

For the six months ended June 30, 2013 net sales of gas to Europe and other countries increased by RUB 93,103m, or 13%, to RUB 824,419m compared to the six months
ended June 30, 2012. This change was primarily due to increase in volumes of gas sold by 10%, or
7.6 bcm, which was reinforced by the increase in average realised prices in RUB terms (including customs duties) by 3%.

Retroactive gas price adjustments were recognised in the consolidated interim condensed financial information for the six months ended June 30, 2013 as an increase in sales in the amount of RUB 73,430m reflecting a decrease in previously accrued liability. In the consolidated interim condensed financial information for the six months ended June 30, 2012 effect of retroactive gas price adjustment, related to gas deliveries in the years 2010 and 2011, amounted to RUB 133,186m decrease in sales.

Net sales of gas to FSU countries decreased by RUB 77,140m, or 30%, to RUB 179,555m in the six months ended June 30, 2013 compared to the six months ended June 30, 2012.

The decrease in sales in this segment is explained by the decrease in volumes of gas sold by 18%, or
5.9 bcm, which was partially reinforced by the decrease in average realised prices in RUB terms (including customs duties) by 14%.

Net sales of gas in the domestic market increased by RUB 21,712m, or 6%, to RUB 411,013m in the six months ended June 30, 2013 compared to the six months ended June 30, 2012. This is explained primarily by the increase in the average domestic price for gas by 14%, which was partially compensated by the decrease in volumes of gas sold by 7%, or 10.7 bcm.

Net sales of refined products increased by RUB 95,364m, or 18%, to RUB 639,643m in the six months ended June 30, 2013 compared to the six months ended June 30, 2012. The increase in net sales of refined products was partially compensated by a decrease in net sales of crude oil and gas condensate by RUB 29,981m, or 23%.

Net electric and heat energy sales increased by RUB 2,430m, or 1%, to RUB 179,566m in the six months ended June 30, 2013 compared to the six months ended June 30, 2012. The increase is mainly caused by the increase in sales of energy sector companies.

In the six months ended June 30, 2013 net gas transportation sales increased by RUB 20,216m, or 34%, to RUB 80,495m compared to the six months ended June 30, 2012. The increase in net gas transportation sales was primarily due to an increase in volumes of gas transportation services rendered to independent gas suppliers and an increase in gas transportation tariffs.

Operating expenses increased by RUB 112,277m, or 7%, to RUB 1,718,884m in the six months ended June 30, 2013 compared to the six months ended June 30, 2012.

In the six months ended June 30, 2013 profit for the period attributable to owners of OAO Gazprom totaled RUB 582,683m which is RUB 65,286m, or 13%, higher compared to the six months ended June 30, 2012.