Gain attributable to the owners of PJSC Gazprom amounted to RUB 447,263 million for the three months ended March 31, 2021.

The Ust-Luga project is in line with Russia's plans to boost its LNG production capacity to around 140 Mt/year by 2035 and to raise its global LNG market share to 20%.

For the year ended December 31, 2020 profit attributable to the owners of PJSC Gazprom amounted to RUB 135,341 million.

In recent times many countries are viewing hydrogen energy as an area essential for the implementation of national low-carbon development strategies. However, hydrogen is a secondary energy source, i.e. additional energy is required to produce it, which has an effect on its cost price.

"We will continue to register any organization that may be involved in any sanctioned activity, and have made it clear that any company risks being penalized for participating in Nord Stream 2," Giordono-Scholz said.

Between 2015 and 2020, U.S. gas production grew roughly twice as fast (4.3% per year on average) as consumption (2.3% per year), according to data from the U.S. Energy Information Administration.

At the same time, hydrogen is a secondary energy source, i.e. additional energy is required to produce it, which has an effect on its cost price.

Under the carbon-neutral arrangements, Gazprom and Shell in partnership offset the carbon footprint of the cargo with VCS (Verified Carbon Standards) and CCB (Climate, Community and Biodiversity) emission certificates.

The Board of Directors reviewed the issue of electing the Chairman of the Gazprom Management Committee and unanimously resolved to reelect Alexey Miller as Chairman of the Management Committee for a 5-year term starting from May 31, 2021.

There had been calls for the Biden administration to intensify sanctions designations to include a wide range of companies involved in the construction of Nord Stream 2, including service companies, insurers and certification companies.