Russian energy giant Gazprom says it expects net profit to decline by around 10% this year. The expected performance replicates that of 2012 when the company lost 9,5%, in sharp contrast with the tumultuous development of the previous decade.
"For 2013, revenues and EBITDA are expected to be at the same level as in 2012. Net profit is expected to decline slightly, perhaps around 10%," said Andrei Kruglov, vice president of the company. This was reported by the Ria Novosti news agency.
Gazprom, which controls a quarter of the world's gas reserves, is feeling the effects of the euro zone crisis affecting its exports and increased competition at home.