Gazprom increased its revenue from exports

Gazprom made a forecast about the volume and price of export deliveries in 2008. If the forecast comes true, this year will be stellar for the gas monopolist.

In the first half, deliveries of gas abroad (in countries outside CIS) will reach 88.7 billion cubic meters and the revenue - 33.2 billion dollars.

For the whole year Gazprom intends to export abroad more than 163 billion cubic meters of gas. The exchange passes are forecast at 64 billion dollars.

For a comparison: in 2007 exports of gas in Central and Western Europe were 150.5 billion cubic meters and the revenue - 39.5 billion dollars. The deliveries in CIS countries and Baltic region in 2008 will be at the level of 50 billion cubic meters (in 2007 - 54.6 billion cubic meters), foreign exchange earnings from exports of gas - at 7.6 billion dollars (in 2007 - 5.3 billion dollars).

The forecast for revenue growth is due to expectations that the annual average export price in 2008 will increase 1.5 times to 401 dollars for 1000 cubic meters (in 2007 - 272.8 dollars).

The concern has no reason not to believe the forecast: at present the average price of European supplies of Gazprom has already reached 410 dollars per 1000 cubic meters, said recently the chairman of the board of Gazprom Alexey Miller.

"Citi" predicts that the revenue of "Gazprom" in 2008 will be 111.8 billion dollars (+24% compared to the forecast for 2007), the profit - 37 billion dollars (+22%).