Gazprom Expects 5-8% Rise in Gas Exports to Europe in 2015-2017

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Gazprom Deputy Chairman Alexander Medvedev stated that the Russian energy giant expects the volume of gas exports to European countries to rise by five to eight percent over the next two years.

MOSCOW (Sputnik) — Russian energy giant Gazprom expects the volume of gas exports to European countries to rise by five to eight percent over the next two years, the company’s Deputy Chairman Alexander Medvedev said Tuesday.

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“Given the continued gradual reduction of gas production in Europe, it can be expected that Gazprom’s exports in the medium term will recover and reach 155 to 160 billion cubic meters per year,” Medvedev said, speaking at an investment conference in Hong Kong.

The increase is expected to take place from 2015 to 2017, and the growth of supplies will depend on weather conditions, according to the deputy chairman.

In 2014, Gazprom’s exports to non-CIS countries decreased by 9 percent from the previous year to 147 billion cubic meters.

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