Naftogaz sees 3.2% fall in gas sales in 2016
National joint-stock company Naftogaz Ukrainy in 2016 saw a fall of 3.2% or by741.5 million cubic meters (mcm), to 22.588 billion cubic meters (bcm).
According to a company annual report, its gas sales revenue last year grew by 46.7% or UAH 38.089 billion, to UAH 119.647 billion.
Earlier Naftogaz said that the company in 2016 saw loss from wholesale trading with gas in the amount of UAH 2.9 billion, including 40% of the loss linked to sale of gas to consumers to whom the government resolution on special liabilities of the company applies.
The reduction in the loss from wholesale trading with gas (UAH 2.9 billion compared to UAH 42.4 billion in 2015) is linked to the natural gas market reform.
As reported, Naftogaz Ukrainy, as a separate legal entity, in 2016 received a net profit of UAH 26.529 billion against a net loss of UAH 27.749 billion in 2015. Its net income in the past year increased by 43.1% compared to 2015, to UAH 161.383 billion, gross profit by 3.6 times, to UAH 45.105 billion.
Naftogaz Ukrainy unites oil and gas production assets in Ukraine, and is the country's gas transit, underground gas storage, and oil pipeline transportation monopoly.
