Gazprom Says Europe 2012 Gas Export Plan Unchanged

Gazprom Says Europe 2012 Gas Export Plan Unchanged

Despite the decline in demand for gas in Europe in 2012, Gazprom has not changed its forecasts for exports, said the head of the gas company, Alexei Miller at the press conference in Omsk.

With regard to exports, we have not changed our targets. Now we are only in the second quarter, the first half of the year has not ended but the main volume of deliveries occur in the 1st and 4th quarters” – he said.

Miller acknowledged that the economic crisis in the euro area has reduced the demand for gas. “This has a significant impact on energy demand, which is the litmus test of economic well-being” – he said.

The head of Gazprom said that in 2011 the company supplied its foreign partners with 12 billion cubic meters more than planned volumes, totalling 150 billion cubic meters.

Referring to the Shtokman project, Miller said that Gazprom had begun negotiations with “good companies” on their possible entry into the project. According to him, the final decision on the project, including the shareholding structure will be announced during the St. Petersburg International Economic Forum to be held in late June 2012.

Miller also said that Gazprom will hold another round of talks with China. Now a visit to China by Russian President Vladimir Putin is being prepared. “I’m in the official delegation, negotiations will take place” – he said.

LNG World News Staff, June 1, 2012