EUROPE GAS DEFICIT: 50 BLN TO 2025

Europe may face deficit of gas imports of a total of 50 bln cubic meters in 2025, Gazprom Deputy Chairman Alexander Medvedev said Monday.

By 2025, deficit in Europe will reach 80 bln cubic meters due to falling natural gas production while "Washington dreamers will hardly be able" to supply more than 50 bln cubic meters of gas to Europe a year, Medvedev said, adding that around 50 bln cubic meters is the import deficit which has no contracts and transport routes for supplying gas to Europe.

Medvedev also confirmed Gazprom will stop gas transit through Ukraine to Europe after 2019. "After the expiry of the transit contract with Ukraine there will not be any prolongation nor signing of a new contract on any terms," he said.

oilandgaseurasia.com