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Dec. 1, 2020, 2:34 a.m. EST

Gazprom books $2.85 billion nine-month loss

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By Jaime Llinares Taboada

Gazprom PJSC on Tuesday posted a loss for the first nine months of the year, as the coronavirus pandemic hit natural gas demand and prices.

The Russian gas giant booked a net loss of 218.38 billion rubles ($2.85 billion) for the nine months ended Sept. 30, compared with a RUB1.048 trillion profit in the same period of 2019.

Bottom-line performance reflected weaker revenue, which fell 25% to RUB4.301 trillion during the period. Gazprom said that net sales to the European and other countries segment fell 40%, compared with a 20% decline in former Soviet Union countries and 6% within Russia.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

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