Gazprom expects rise in exports to Europe
With energy prices beating new records, Reuters reports, Russian gas export monopoly Gazprom sees its export sales to Europe up by 62 percent this year.
Thursday, 19.06.2008.
16:13
With energy prices beating new records, Reuters reports, Russian gas export monopoly Gazprom sees its export sales to Europe up by 62 percent this year. Gazprom, the world's largest gas producer, which supplies a quarter of Europe's gas needs, forecasts its export sales to Europe to hit a record USD 64bn in 2008, up from USD 39.5bn last year. Gazprom expects rise in exports to Europe "We can not help but be pleased by such forecasts, because high results will be a good base for our investment program," Aleksandr Medvedev, Gazprom's Deputy Chief Executive, told a briefing. Medvedev said average gas export price is expected to reach around USD 401 per 1,000 cubic meters (tcm) this year, around USD 90 per tcm more than last year. Sales of 50 bcm of additional gas to former Soviet Union states would generate another USD 7.6bn this year, Gazprom said. Gazprom often gives cautious export forecasts as it relies on conservative estimates of gas prices, which depend on international oil products prices and change with a lag of six to nine months. The firm said its sales to Europe in the first half of 2008 would be close to USD 33.2bn on gas sales of 88.7 bcm. Aleksandr Medvedev (Tanjug)
Gazprom expects rise in exports to Europe
"We can not help but be pleased by such forecasts, because high results will be a good base for our investment program," Aleksandr Medvedev, Gazprom's Deputy Chief Executive, told a briefing.Medvedev said average gas export price is expected to reach around USD 401 per 1,000 cubic meters (tcm) this year, around USD 90 per tcm more than last year.
Sales of 50 bcm of additional gas to former Soviet Union states would generate another USD 7.6bn this year, Gazprom said.
Gazprom often gives cautious export forecasts as it relies on conservative estimates of gas prices, which depend on international oil products prices and change with a lag of six to nine months.
The firm said its sales to Europe in the first half of 2008 would be close to USD 33.2bn on gas sales of 88.7 bcm.
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