Ukraine sees revenue from Russian gas transit decline in 2019 – Naftogaz's report

19:59, 29 April 2020
Economy
361 0
REUTERS

This is reported in the 2019 consolidated financial statements by the Naftogaz Group.

Read alsoNaftogaz boosts net profit by 5.5 times in 2019

According to the report, transit payments transferred by Gazprom in 2019 totaled UAH 70.21 billion (US$2.59 billion), whereas the Russian company paid Ukraine UAH 72.34 billion (US$2.67 billion) for its gas transit in 2018.

Naftogaz says that "Gazprom was the only external customer with concentration of revenue exceeding 10% of total revenues during the years ended December 31, 2019 and 2018."

In 2019, Naftogaz revenue from transportation, oil refining and fuel sales decreased by 7.7%, to UAH 11.95 billion (US$441.8 million) from UAH 12.95 billion (US$478.7 million).

As UNIAN reported earlier, Naftogaz in 2019 posted UAH 63.3 billion, or US$2.34 billion, in net profit. It was 5.5 times more than in 2018, as UAH 55.7 billion, or US$2.06 billion, came from the Gas Transit Arbitration against Russia's Gazprom last year.

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