MOSCOW, June 30 (RIA Novosti) - Gazprom [RTS: GAZP] said on Monday its consolidated net profit to International Financial Reporting Standards increased 7.3% year-on-year to 658 billion rubles ($27.8 billion) in 2007.
The state natural gas monopoly's revenue increased 11.1% in the reporting period to 2.39 trillion rubles ($101 billion).
Gas sales rose by 116.1 billion rubles ($4.8 bln) to 1.528 trillion rubles ($63 bln), mainly as a result of gas price increases for post Soviet countries, as well as domestic consumers.
Base prices on foreign markets rose on average 27%, which was partially compensated by a 4% drop in net sales.
Domestic gas prices rose 15%, while net sales declined 3%.
In 2007, Gazprom produced 548.6 billion cubic meters of gas, and plans to produce 563 billion cu m in 2008, up 14.4 billion cu m on 2007.
