The Russian gas giant expects a fall in exports, which, according to the most pessimistic scenario, could reach 4,9%.
However, the management of the company expressed the hope that the decline in exports will occur within, if not an optimistic scenario (a fall of 1,9%), then at least a basic one (a decline of 3,9%). The deputy head of the Gazprom department, Mikhail Malgin, said this during a teleconference.
After last year’s company record of 201,9 billion cubic meters of exported gas, it seemed that exporting 200 billion cubic meters of gas per year could become a standard volume.
However, the warm winter and the desire of Europe to avoid the risks associated with the termination of gas transit through the territory of Ukraine led to the fact that European storages are already full by 93% and, accordingly, the dynamics of exports decreased.
Gazprom’s gas export performance this year is unlikely to be affected by the launch of the Turkish Stream and Nord Stream 2, which is scheduled for the end of the year.
The structure of the European market is changing due to the massive launch of LNG plants around the world, and therefore the Russian company will have to be more flexible in the struggle for its place in the sun.