Gazprom sees record gas supplies to Europe this year

Russian gas giant plans to boost flows to Turkey and the EU by 2 percent this year, reports Bloomberg
Gazprom sees record gas supplies to Europe this year
01 February 13:20 2016 Print This Article

In 2016 Gazprom plans to boost its gas supplies to Turkey and the EU to 162.6 billion cubic meters, up from 159.4 billion in 2015 and above a record of 161.5 billion in 2013, reports Bloomberg citing the company’s non-public budget, which according to the agency is “more ambitious than public statements by the company to maintain supply”.

According to Blomberg, in 2017, the volume of gas supplies to Europe and Turkey is expected to reach 166.1 billion cubic meters and 166.3 billion in 2018. The increase in flows will be seen through the Nord Stream gas pipeline under the Baltic Sea to Germany.

In order to support its plan, Gazprom will hold its annual Investor Day on Monday for the first time since 2014. This event will be held in New York to aim Asian bond and shareholders. While another investor meeting will be scheduled in London on February 4.

Earlier, the CEO of Gazprom Alexei Miller said that in 2015 the company had increased its gas supplies to the CIS countries by 8% up to 159.4 billion cubic meters.

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