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Gazprom's European gas sales remain low on warm weather

Russian gas supplies to Europe and Turkey so far in 2019 are 8.2% lower year on year.

Moscow, March 20 - Neftegaz.RU. Russian gas supplies to Europe and Turkey so far in 2019 are 8.2% lower year on year, Gazprom said, as warm temperatures keep a lid on demand, Platts reported.


In the period January 1-March 15, Gazprom's sales in the Far Abroad - Europe + Turkey but minus the countries of the former Soviet Union - totaled 40.8 Bcm, Gazprom said.


The Russian gas sales figure of 40.8 Bcm converted to the standard European measurement of 40 MJ/cu m and 15 degrees Celsius is 37.4 Bcm. «This year, the volume of exports continues to be influenced by warm weather in Europe,» Gazprom said.


The average March sales figure so far is 540 million cu m/d - flat on February but well down on January's average of 568 million cu m/d. Gazprom's gas supplies - which consist of volumes sold to customers including from storage - hit a new record of 201 Bcm in 2018.


Gazprom Export CEO Elena Burmistrova said late January that the record high gas sales last year represented a «new reality» for Russian gas exports to Europe. She said she expected gas sales to remain at those levels over the next few years given that Europe was set to become increasingly import dependent and that Russia was in a good position to fill the growing import gap.


Even with stable demand, additional imports would be needed because of the fall in domestic European gas output, she said.


Source : Neftegaz.RU