RUSSIAN GAS UP
According to NGE, Russian gas export monopoly Gazprom plans to export over 5bn m³ more to the European Union and Turkey this year than last, to reach a total 165bn m³, Alexander Medvedev, deputy chairman of the Gazprom board, told the international conference on 'Perspectives of Energy Cooperation Russia – European Union,' organized by the Russian Gas Society.
In 2015 Gazprom increased gas exports to the region by 8% compared with 159.4bn m³ in 2014. The latest official statistics also indicate that Gazprom's gas exports experienced significant growth in the first four months of 2016.
The Russian Federal Customs announced earlier that Gazprom sold 11.4% more gas, a total 66.2bn m³, during the first four months. The growth in deliveries came despite Turkey cutting Russian gas imports by more than a quarter in February and March, but it resumed the imports in April.
Gazprom CEO Alexei Miller said the main factor of the growth of exports to the far abroad was less production there. The Netherlands has lowered the production limit at the Groningen gas field, where output is flexible to meet demand.
Miller believes that Russian gas exports will continue to grow in this region. According to BP, Europe & Eurasia's gas production fell by 0.7% to 989.8bn m³ in 2015, year-on-year, though demand also fell by 0.3% to 1003.5bn m³. Gazprom plans to produce 452.5bn m³ in 2016, up from 418.5bn m³ last year.
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