Gazprom Profit Jumps After Gas Shipments to Europe Surge
Gazprom PJSC’s profit jumped to the highest in three years as natural gas sales to Europe surged. The results may raise pressure on Gazprom’s management to increase its dividend payout, something the company has resisted as it’s boosting investment in projects that will expand its reach deeper into Europe and Asia. Gazprom is sponsoring the Nord Stream 2 link that will funnel gas into Germany underneath the Baltic Sea, bypassing political hot spots along the main existing transport route through Ukraine.