{"id":16237,"date":"2025-12-02T04:11:11","date_gmt":"2025-12-02T04:11:11","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=16237"},"modified":"2025-12-02T04:11:11","modified_gmt":"2025-12-02T04:11:11","slug":"gazprom-posts-1-72b-net-profit-in-q3-2025-buoyed-by-tax-relief-but-below-expectations","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/16237\/","title":{"rendered":"Gazprom Posts $1.72B Net Profit in Q3 2025, Buoyed by Tax Relief But Below Expectations"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Russia\u2019s state-controlled energy giant Gazprom clawed back from last year\u2019s hefty losses, reporting a net profit of 134.2 billion rubles ($1.72 billion) for the third quarter of 2025\u2014a sharp rebound fueled by government tax cuts, though the figure fell short of analyst forecasts amid lingering fallout from Europe\u2019s energy standoff.<\/p>\n

The results, unveiled Friday by the Kremlin-backed behemoth, mark a stark contrast to the 53 billion-ruble net loss in 2024, which stemmed from a one-off windfall tax. Gazprom attributed the Q3 turnaround to eased fiscal pressures, with revenues dipping slightly to 2.18 trillion rubles from 2.4 trillion a year earlier. Over the first nine months of 2025, cumulative net income surged 13% year-over-year to 1.12 trillion rubles, signaling cautious stabilization in a sector battered by geopolitics.<\/p>\n

Analysts polled by Interfax had penciled in a rosier 200 billion rubles for the quarter, highlighting persistent headwinds. Since Moscow\u2019s invasion of Ukraine in February 2022, Gazprom has hemorrhaged its once-lucrative European pipeline market\u2014previously accounting for over 40% of sales\u2014pivoting instead to discounted exports to China and domestic consumption. The shift has squeezed margins, even as global LNG demand offers glimmers of hope.<\/p>\n

Markets shrugged off the earnings miss, with Gazprom shares climbing 1.13% to 125.46 rubles on the Moscow Exchange by midday trading. The uptick reflects investor relief over the profit positivity, but broader challenges loom: U.S. and EU sanctions continue to throttle technology access for Arctic gas projects, while Russia\u2019s pivot to Asia grapples with infrastructure bottlenecks.<\/p>\n

\u201cGazprom\u2019s recovery is a testament to adaptive fiscal policy, but sustained profitability hinges on diversifying beyond Europe,\u201d said energy analyst Maria Kuznetsova of VTB Capital. The company\u2019s Q3 export volumes to non-EU buyers rose 8%, per preliminary data, yet domestic price caps\u2014intended to shield Russian households\u2014erode upside potential.<\/p>\n

As winter demand ramps up, Gazprom faces scrutiny over its Yamal LNG venture and Power of Siberia pipeline expansions, critical to offsetting lost Western revenues. With Russia\u2019s economy increasingly oil- and gas-dependent amid sanctions, Friday\u2019s disclosure underscores the tightrope: tax leniency as a short-term salve, but long-term resilience demands bolder bets on green hydrogen and renewables\u2014fields where Gazprom lags rivals like Norway\u2019s Equinor.<\/p>\n

The earnings come against a backdrop of thawing U.S.-Russia energy dialogues under the incoming Trump administration, potentially easing some export curbs. Yet for Gazprom, the real test lies in Q4: Can it convert seasonal spikes into enduring gains, or will analyst skepticism prove prescient?<\/p>\n

Updated on