Russia owned energy firm Gazprom made nearly £40m from its stake in a UK North Sea gas field last year, new documents have revealed.
According to accounts published on companies house, Gazprom International UK Limited made pre-tax profits of 45.1m euros (£38.7m) from its stake in the Sillimanite field in the southern North Sea.
Operated by Germany’s WintershallDEA, Sillimanite banked Gazprom 48.1m euros the year prior.
The field sits cross-border between the UK and the Netherlands.
The arrangement is not illegal, however it comes amid a cluster of sanctions from the UK upon Russia following its invasion of Ukraine.
Despite a number of businessmen being part of those penalties, Gazprom International UK, whose ultimate parent is PJSC Gazprom, is not.
The UK arm’s revenues are from sales outside of the UK, the accounts say.
Having ended a deal to sell gas to Winterhsall DEA earlier this year, it now does so through Swiss trading company Guvnor.
WintershallDEA was once owned in part by Russian oligarch Mikhail Fridman through his investment vehicle LetterOne, however he lost control last year amid sanctions.
Lid Dem leader Sir Ed Davey told the BBC it was “unacceptable” that gas from the UK was supporting Russia’s “illegal war against Ukraine”.
The UK Government said it would continue to work to deny Russia access to UK goods and technologies.
Last year it was revealed Russia-owned Gazprom had paid itself a dividend of nearly £30m from its stakes in fields in the UK North Sea.
Gazprom has stakes in five licences in the UK sector operated Wintershall DEA – and have not been revoked as part of the sanctions against Russia.
The UK Government last year said the fields did not supply gas to Britain, and the NSTA said it would not comment on individual licence decisions.
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