The cold winter in the first three months of the year has boosted the profits of Russia’s Gazprom.

Gazprom, which supplies about one quarter of all Europe’s gas, has reported a threefold surge in profits over the cold winter months, when demand was high.

Net profit has come in at came in at $10.6 billion, with sales volumes to Europe rising by 37%.

The Russian energy company also said revenues were boosted by foreign currency movements.