5 March 2018

Russian Gas Export Sets New Records

Through late February and early March 2018, Gazprom has been breaking records for ten consecutive days, setting new historical maximums of daily gas supplies. A new record level of 713.4 mcm was reached on March 2. In 2017, the maximum value was set on December 19 at 640 mcm.

In addition, this February broke a record for the total exports volume: Gazprom exported a total of 17.4 bcm, which is 6.8% (or 1.1 bcm) higher than in February 2017, and the absolute maximum for this month in the entire history of deliveries to the Far Abroad.

Compared to February 2017, gas exports to Germany in February 2018 went up by 8.5%, to Austria by 115,8% and to the Netherlands by 146,8%.

“These figures are more than impressive. They are indicative of the huge, unique opportunities available to Gazprom and, by extension, to our consumers in Europe. We are a responsible supplier. Yet again, we are doing something only Gazprom can do in the European market, by promptly responding to the sharp rise in demand and providing consumers with the required amounts of gas”, said Alexey Miller, Chairman of the Gazprom Management Committee.

The growth in demand for Russian gas in Europe was also noted by market participants. Bloomberg newswire quotes meteorologist Giacomo Masato from brokerage company Marex Spectron Group: “We see the coldest end of the winter in years, and Russia is the first supplier with enough spare capacity to meet an extreme surge in demand.”

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