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Gazprom expects to export 172 Bcm to Europe and Turkey

The demand for Russian natural gas is still high in the European countries.

07.Nov.16 10:09 AM
By Alesya Davydova


Gazprom expects to export 172 Bcm to Europe and Turkey

Russian gas exporter Gazprom expects that its natural gas supplies to Europe and Turkey will hit a new record level in 2016 reaching 172 billion cubic meters, a senior Gazprom Export official told S&P Global Platts on Monday.

Gazprom's gas exports to Europe and Turkey - but not including the former Soviet republics - continue to have a competitive price as compared to European gas hubs, provoking an increase of buying activity by European customers in 2016.

"This year will definitely be a record high level -- the latest estimates are 172 Bcm," Valery Nemov, Gazprom Export's deputy head of contract structuring and price formation, said.

Before that Gazprom CEO Alexei Miller said that the company was planning to export 170 Bcm this year and that the number could rise if the coming winter was cold. The previous Gazprom record export level was registered in 2013 when the company’s supplies hit 161.5 Bcm.

Besides, Gazprom Deputy CEO Alexander Medvedev claimed at the end of October that the company expected European gas demand to remain high in November and December.

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