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Gazprom Q2 Profit $10Bln

Gazprom said Wednesday that its second-quarter net profit rose to 303.7 billion rubles ($10.03 billion) on the back of rising sales.

Gazprom has been struggling to keep its market share in Europe, but the company's sales rose after social unrest in the Arab world and nuclear disaster in Japan.

Gazprom gas sales to Europe increased 42 percent year on year in the first six months of 2011 to 742.2 billion rubles, or to 86.6 billion cubic meters, compared to full-year plans of up to 155 bcm. Gazprom also reported second-quarter revenue of 1.03 trillion rubles, up from 761.95 billion rubles in the same period a year ago.

(Reuters)

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