Gazprom Estimates Revenue From Gas Supplies

Gazprom expects its revenue from natural gas supplies to countries outside the CIS to reach $64bn in 2008, Alexander Medvedev, Deputy Chairman of the Russian energy holding's Management Committee, said today. On the whole, the company plans to export over 163bn cubic meters of gas to countries outside the CIS.

Gazprom supplied 150.5bn cubic meters of gas to Central and Western Europe in 2007, down 0.4 percent compared to the previous year, while the holding's dollar-denominated revenue from exports to these countries rose 5 percent to $39.5bn. According to preliminary estimates, the share of Russian gas in Central and Western Europe's gas imports amounted to some 40 percent in 2007. The average price of Gazprom's gas supplies to Europe is expected to reach $401 per 1,000 cubic meters in 2008 against $272.8 last year.