July 2012, Vol. 239 No. 7

Projects

Gazprom Exports to Europe Decrease

Gazprom’s exports to Europe fell 12% in the first four months of 2012, calling the company’s annual plans to export 150 Bcm of gas into question. Sales from January to April dropped from 58 Bcm last year to 51 Bcm this year.

Sources said an expected price hike at the beginning of last year caused Gazprom customers to stock up ahead of the increase and then switch to other suppliers. Gazprom also attributed the drop to warm winter prices.