5 July 2017

Gazprom Exports to Europe Increased by 13.2% in the First Half of 2017

In his speech at the annual General Shareholders Meeting held in Moscow on June 30, 2017, Alexey Miller, Chairman of the Gazprom Management Committee, noted that the total volume of company’s natural gas exports in January-June of 2017 amounted to 95.7 bcm. Thus, in six months of this year, the volume of exports increased by 10.5 bcm, or 12.3%, compared to the same period last year.

In absolute figures, Germany experienced the biggest increase in gas supplies, being the largest recipient of Russian gas. In the first half of 2017, Gazprom delivered 26.5 bcm of gas to this country, which is 16.7% or 3.8 bcm more than in the first six months of 2016.

Alexey Miller added that over the past year and a half the total volume of Gazprom supplies to the European market increased by 30.4 bcm, which is comparable to the annual capacity of the TurkStream or represents more than a half of the Nord Stream 2 capacity. „This growth occured in just one and a half years”, he stressed.

According to Alexey Miller, Europe continues to be in need of imported gas because of increased demand and falling indigenous production. Foreign partners also note the growing demand for gas in Europe and consequent need for expansion of the gas transportation infrastructure. Therefore, European companies are ready to participate in the projects of new gas trunklines from Russia in partnership with Gazprom.

Related sections:
Germany, Delivery Statistics, Gas Market News


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