OGZPY - Gazprom beats anticipates higher earnings on record European gas prices

Gazprom (OTCPK:OGZPY) reported Q3 earnings, with revenues rising 95% and operating profits up 350% versus the same period last year Gazprom has committed to returning 50%+ of earnings to investors in the form of dividends, and anticipates record gas prices in Europe during Q4 to lead to the company's best earnings quarter of the year  Management views current prices as unsustainable "even as direct beneficiaries of the current situation, we do not consider gas prices at around $1,000 per 1,000 cubic meters as sustainable. We see that they have already begun to negatively affect demand", but has done little to increase supply to Europe at this time, stating plans to "maintain market share" Management anticipates price realizations in 2022 to be higher than 2021, on low inventories and falling domestic European production

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Gazprom beats, anticipates higher earnings on record European gas prices