Gazprom reported record gas supplies to Europe

Despite all attempts by European Union to limit its dependence on Russian gas, Gazprom improved its record for deliveries to the continent. On November 25 the Russian gas giant has supplied 601.2 million cbm of gas per day. According to the company data from January to October the gas supplies to European customers increased by 10% or a little more than 13 billion cbm. Significant growth is for deliveries to the United Kingdom (54.6%), the Netherlands (91.8%) and Denmark (149.4%). For Greece, which receive Russian natural gas through Bulgaria, deliveries rose by just over 47%, according to the report of Gazprom.

According to the head of Russian gas giant Alexei Miller the increased consumption is a sign of reliability and stability of supply for Europe. Miller predicted that in 2016 Gazprom will deliver more than 170 billion cbm of natural gas to Europe. For example in 2015 Gazprom increased supplies to Europe by 8% yoy to 159.4 billion cmb.

“This is a landmark event, historical defensive line, in terms of our export deliveries. The confident growth in demand for Russian gas testifies to the reliability and stability of supply of Gazprom”, said Alexei Miller.

Since the beginning of the year the price of natural gas fell continuously, as it is linked to the movement of oil prices. The fluctuations on the oil markets is reflected with some delay on the price of natural gas. Thus, in recent months Europe actually gets cheaper raw material and the lowest price is for deliveries to Bulgaria.

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