• 3 minutes Looming European Gas Crisis in Winter and North African Factor - a must read by Cyril Widdershoven
  • 7 minutes "Biden Targets Another US Pipeline For Shutdown After 'Begging' Saudis For More Oil" - Zero Hedge Monday Nov 8th
  • 12 minutes "UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System" by Whitney Webb
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day Building A $2 Billion Subsea Solar Power Cable From Chile To China
  • 15 hours Hunter Biden Helped China Gain Control of Cobalt Mines in Africa
  • 4 hours Microbes can provide sustainable hydrocarbons for the petrochemical industry
  • 26 mins CO2 Electrolysis to CO (Carbon Monoxide) and then to Graphite
  • 1 day NordStream2
  • 4 hours OPEC+ Expects Large Oil Glut In Early 2022
  • 1 hour Ukrainian Maidan after 8 years
  • 3 hours Forecasts for Natural Gas
  • 3 days "Gold Set To Soar As Inflation Fears Mount" by Alex Kimani
  • 1 day Big Bounce: Russian gas amid market tightness - new report by Oxford Institute for Energy Studies
Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Gazprom Exports To Europe To Increase Through 2016

The Russian firm Gazprom’s natural gas exports to Europe will continue to increase through the end of 2016, according to the company’s Management Committee Chairman, Alexey Miller.

"Currently we expect a 10% increase and there are no factors triggering a downtrend,” the official said on Monday to TASS, a Russian news source. "There is a sustainable demand for Russian gas, and it keeps growing. Even in case the demand is not growing but keeps at its level those 10% will be there.”

Miller added that the third and fourth quarters of the year usually represent “peak demand quarters” for Gazprom, meaning total gas exports to Europe may exceed 170 billion cubic meters by the end of 2016 - roughly 10 billion cubic meters more than in 2015.

Despite the European Union’s public plan to replace Russia as a major energy source for the continent, demand for Russian gas in many European Union member states has increased between January and August of this year. Gazprom’s data shows rising exports to Austria (16.8 percent), Greece (66.2 percent), Poland (21.5 percent), France (29.3 percent), the United Kingdom (62.1 percent), as well as other member states during the time period specified.

Last year, the European Council on Foreign Relations released a report outlining new energy sources for Europe. The document called Russia an “unreliable partner” and suggested several Central European and Middle Eastern countries – including Iran and Iraq – as possible suppliers in the near future, albeit with logistical caveats.

In July, EU member states agreed to invest the equivalent of US$297 million on energy-generating projects across the bloc, with particular focus on the Baltic countries of Latvia, Lithuania and Estonia. All three countries had previously been under the control of the Soviet Union, which is why the Russian Federation and its state-run energy companies remain major sources of oil and natural gas.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News