29 June 2018

Gazprom's Exports to the European Market in the 1st Half of 2018 is to exceed 100 bcm

In the first half of 2018, Gazprom is to supply 101.2 bcm of gas to the European market, which is 5.7% (5.5 bcm) more than in the same period of 2017. This was stated by the Chairman of the Management Committee of the company Alexey Miller in his speech at Gazprom’s annual meeting of shareholders. 

It is expected that by the end of 2018, Gazprom’s exports to the Far Abroad will renew the historical record and exceed 200 bcm. The previous record, 194.4 bcm, was set in 2017, when Gazprom’s share in gas consumption in Europe reached 34.2%.

According to Alexey Miller, Gazprom is striving to increase its own gas storage capacities in Europe to 5% of the annual export volumes. In addition, the company is exploring the opportunities to participate in new underground storage facilities in Austria, Slovakia, as well as in China and other countries. 

In order to increase the flexibility of supply to its foreign partners, Gazprom Group develops its activities in the global market of liquefied natural gas (LNG). In 2017, LNG from the Group’s portfolio was delivered to nine countries, and most of the trading operations were related to Asia-Pacific Region. Among the LNG buyers in Europe, Spain became a new client of Gazprom in 2017, said Alexey Miller.

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