Gazprom plans to keep gas exports to Europe at level of previous years

Gazprom plans to keep gas exports to Europe at level of previous years
  • Clock-gray 15:24
  • calendar-gray 28 January 2020

Russian gas giant Gazprom plans to maintain gas exports to non-CIS countries at the level of previous years, head of Gazprom Export, Elena Burmistrova said speaking at the European Gas Conference, APA reports citing TASS.

"In 2019, Gazprom’s export to non-CIS countries amounted to 199.3 bln cubic meters of gas, taking into account 382 mln cubic meters delivered to our new destination - to China ... One thing is clear - Gazprom was and remains the largest exporter of natural gas in Europe and the world. In the mid-term, we expect export to Europe to remain at the level that has been achieved over the past years with adjustments that are related to weather conditions," Burmistrova said.

According to her, despite the growth of LNG supplies to Europe, Gazprom's gas exports only slightly decreased from the record level of 2018.

"Some people think that liquefied gas is more competitive than pipeline gas. You can often hear that LNG is pushing Russian pipeline gas out of the European market," Burmistrova said.

 
 

She noted that the main shortcoming of LNG, is its "limited ability to quickly meet demand during peak periods of consumption."

"Therefore, for Europe, we continue to rely on pipeline gas, which will provide stability and reliability along with contract flexibility. In this region, pipeline deliveries are simply a more profitable solution," she concluded.

 

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