MOSCOW: Russia total gas exports were about 192m cubic meters in last year.Russia, including 147bn outside the former USSR, a 9 percent decline, Bloomberg calculations based on daily data from European pipeline operators show. In comparison, fuel exports from Norway, Russia’s main competitor, decreased only 1.5 percent to 101 billion cubic meters, the national pipeline operator Gassco AS said today on its website.
OAO Gazprom (GAZP), the state-run gas-pipeline export monopoly, supplied no more than 195 billion cubic meters of fuel from Russia to the European Union, Turkey and the Commonwealth of Independent States, according to UBS AG estimates. That’s about 10 percent less than in 2013.
Total exports were about 192 billion cubic meters last year, including 147 billion outside the former USSR, a 9 percent decline, Bloomberg calculations based on daily data from European pipeline operators show. In comparison, fuel exports from Norway, Russia’s main competitor, decreased only 1.5 percent to 101 billion cubic meters, the national pipeline operator Gassco AS said today on its website.
“The EU and Ukraine’s policy to reduce dependence on Russian gas is giving fruit,” said Maxim Moshkov, a Moscow-based oil and gas analyst at UBS. “Gazprom won’t seriously ramp up its supplies in the medium term – at least until it starts the export to China in 2019 to 2020.”
Facing its first recession since 2009, Russia relies on natural gas for 11 percent to 12 percent of its total export revenue. The EU is Gazprom’s key earnings market, while Ukraine was previously the largest gas importer in the CIS. Both regions are reducing gas consumption and seeking to ease reliance on Russia as relations soured over its annexation of Crimea and the conflict in eastern Ukraine.
