BAKU, Azerbaijan, August 25. QazaqGaz recorded
a net profit of 41.79 billion tenge ($91.21 million) for the first
six months of 2026, representing a 61.65% decline compared to
108.97 billion tenge ($237.8 million) reported in the same period
of 2025.


This was announced in a financial statement published by the
QazaqGaz.


According to the statement, in the second quarter of 2026
(April–June), the company's net profit reached 88.37 billion tenge
($192.86 million), down 8.1% from 96.17 billion tenge ($209.88
million) earned in Q2 2025.


''Despite the decrease in overall net profit, revenue from
contracts with customers grew by 13.22% in the first half of 2026,
reaching 720.79 billion tenge ($1.57 billion), up from 636.64
billion tenge ($1.39 billion) in the first six months of 2025,''
the financial statement indicates.


QazaqGaz reduced its consolidated gross loss for the six-month
period to 48.90 billion tenge ($106.71 million), compared to a
gross loss of 123.94 billion tenge ($270.47 million) recorded in 1H
2025.


The company's performance was further supported by its share of
profit from joint ventures and associates, which contributed 145.36
billion tenge ($317.22 million) during the six-month period,
compared to 161.03 billion tenge ($351.38 million) in the
corresponding period of last year.







As of June 30, 2026, total assets of QazaqGaz stood at 5.22
trillion tenge ($11.39 billion), up from 4.67 trillion tenge
($10.19 billion) at the end of 2025. Currency conversions are based
on the official exchange rate of $1 = 458.23 tenge as of August 21,
2026.


According to Trend
analysis, QazaqGaz's financial results reflect a widening gap
between revenue growth and bottom-line performance. The increase in
operating revenue indicates stronger commercial activity and the
effect of tariff adjustments, while profitability remains
constrained by the company's role in ensuring domestic gas supply
and meeting regulated-market obligations.


The significant narrowing of the gross loss points to improving
cost efficiency and could indicate that recent pricing and
operational measures are beginning to have an effect. However, the
decline in earnings from joint ventures and associates suggests
that external income sources provided somewhat less support than in
the previous year.


The continued expansion of the company's asset base points to an
ongoing investment cycle focused on gas transportation
infrastructure, network modernization and field development. These
investments could strengthen QazaqGaz's long-term capacity to meet
growing domestic demand, although they also imply sustained capital
requirements and pressure on financial resources.