Russian gas giant OAO Gazprom's (GAZP.RS) net profit halved in the second quarter, compared with the corresponding period a year earlier, as a result of lower gas sales and retroactive payments to European customers, but the figure was still above analysts' forecasts.

State-controlled Gazprom--the world's biggest producer of natural gas--said Friday that net profit attributable to shareholders totaled 150.8 billion rubles ($4.8 billion) in the three months to June 30 compared with RUB303.7 billion a year earlier.

The second-quarter results were posted on the company's website after it earlier reported its first-half profit fell 34% to RUB509.7 billion

A Dow Jones Survey of eight analysts had forecast that Gazprom's net profit for the second quarter would fall to RUB143 billion. Gazprom shares were up 0.9% in Moscow at RUB145.59 at 0807 GMT.

Gazprom has adjusted supply contracts with some clients, its most lucrative market, and made retroactive payments totalling RUB133.2 billion in the first half of the year. Gas sales were down to 255.5 billion cubic meters in the first six months of the year from 287.6 billion in the same period last year.

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