GAZPROM Germania GmbH remains on track despite extraordinary challenges posed by the economic environment and current energy policy.
The GAZPROM Germania Group recorded revenues of EUR 9.8 billion for the 2011 financial year (previous year: EUR 8.7 billion) and a group result of EUR 341 million, exceeding the previous year’s profit for the year of EUR 325 million by 5%.
Business development remained positive in 2011, even under difficult market conditions. “2011 was a difficult year for the energy industry. Market conditions in Germany and throughout Europe underwent lasting, fundamental change at high speed. Despite conditions that were as difficult as ever, we achieved an overall result that we are very satisfied with”, says Vyacheslav Krupenkov, Senior Managing Director at GAZPROM Germania GmbH.
In 2011, GAZPROM Germania GmbH paid its parent company Gazprom export a dividend of EUR 410 million for the 2010 financial year, the largest dividend it has ever paid.
With reference to the current economic climate, Krupenkov stressed that GAZPROM Germania needs to continue to adapt to changing circumstances: “We have to view these fluctuations and uncertainties as normal and organize our processes and structures in such a way that we can react quickly and flexibly. We will continue to work on developing and realizing strategic initiatives in the fields of natural gas storage, electricity generation, and natural gas trading for European consumer markets.”
Despite the current difficult market situation, Krupenkov remains optimistic: “Russian gas will continue to contribute to providing a reliable, environmentally friendly supply of energy to European customers in the future. By diversifying our fields of business, developing new markets, directly investing in natural gas infrastructure projects in Germany and Europe, or indirectly investing in such projects through our subsidiaries and participations, GAZPROM Germania has great opportunity to create value for our parent company GAZPROM.”
About GAZPROM Germania
Berlin-based GAZPROM Germania GmbH is a wholly-owned subsidiary of the world’s largest natural gas producer, GAZPROM. Since its establishment in 1990, it has developed into an internationally operating group of companies.
Its main fields of business include natural gas production, natural gas storage, and natural gas trading. The group comprises around 40 companies operating in more than 20 countries in Europe, Central Asia, the United States, and Mexico. It employs around 1000 employees, 180 of which work at its Berlin site.
Together with its strategic partners, the GAZPROM Germania Group is making a contribution to ensuring a reliable, environmentally friendly, and sustainable energy supply for Europe.
Director of Corporate Communications
Phone: +49 30 / 20 195 – 152
GAZPROM Germania GmbH