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Gazprom further strengthening its position as largest exporter of gas to Europe and Turkey

Gazprom took note of the information about the impacts of the events of 2018 on the long-term outlook.

Moscow, November 22 - Neftegaz.RU. The Gazprom Board of Directors took note of the information about the impacts of the events of 2018 on the long-term outlook for the global energy market.


It was highlighted that the growth in natural gas consumption around the world continued unabated. In 2016–2017, it added more than 3 % on a yearly basis. The growth rate for 2018 may be even higher.


One of the most significant developments in the energy market has been China’s newly-acquired status as the world’s №1 gas importer. According to the General Administration of Customs of China, the country imported 58.4 billion m3 of gas in the 1st half of 2018, an increase of 15.2 billion m3 against the 1st half of 2017.


In the same period, Japan – the biggest gas buyer of the last few years – imported 58.2 billion m3. As China’s gas demand keeps growing, the share of imports in its energy mix will go up as well.


An important trend in 2018 has been a decline in gas production across Europe, deepening the region’s dependence on gas imports. This is primarily due to an accelerated reduction in gas production at the Groningen field in the Netherlands, one of the main domestic sources of natural gas for European consumers.


Against this backdrop, Gazprom continues to strengthen its position as the largest exporter of gas to Europe and Turkey. According to preliminary data, in the period from January 1 through November 15, 2018, the company delivered to that market 171.6 billion m3 of gas, a rise of 3.5 % compared to the same period of the record year of 2017.


Source : Neftegaz.RU

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