Russian state oil company Gazprom has had its best quarter ever due to high energy prices.

The company posted a net profit of 581.8 billion rubles (6.9 billion euros) in the third quarter, compared to a loss of 251 billion rubles a year ago.

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Gazprom sold 1.2 trillion rubles worth of gas in Russia and Europe last quarter.

At the same time, the price for 1,000 cubic meters of gas rose from 104 euros a year ago to 278 euros now.

Gas prices have risen sharply in recent months.

Since the beginning of the year, it has already increased by 384 percent.

At the beginning of October, the price peaked at more than EUR 116 per megawatt hour, but has since fallen to around EUR 88.

Gazprom plays an important role in the energy crisis.

The company, which is controlled by the Kremlin, supplies gas to European countries through the Nord Stream pipeline.

A number of countries accuse the producer of not supplying enough, but Gazprom claims that it complies with all supply agreements.

Meanwhile, a second gas pipeline has been built between Russia and Germany, but it is not yet in operation.

Germany first wants promises from Russian President Vladimir Putin that he will not suddenly cut off the gas supply if a conflict breaks out between Russia and the EU.

It is not yet clear when the Nord Stream 2 will come into use.

Gazprom also released its results for the first nine months of this year on Monday.

Turnover rose by 71.4 percent to 2.4 trillion rubles.

That too was a record.

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