Gazprom expect earnings to double

Russian power firm Gazprom expectsits earningsbefore interest, tax, depreciation and amortisation (EBITDA) for its gas business to almost double to 2.7 trillion roubles (£57bn) by 2020, according to reports. Reuters […]

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By Tom Gibson

Russian power firm Gazprom expectsits earningsbefore interest, tax, depreciation and amortisation (EBITDA) for its gas business to almost double to 2.7 trillion roubles (£57bn) by 2020, according to reports. Reuters claim that Gazprom believe their 2011 earnings before tax reached 1.4 trillion roubles (£29.5bn).

The news comes shortly after the power firm admitted they have struggled to supply Europe with enough gas to combat colder than normal temperatures.