Breaking News

Icahn Takes 8.48% Stake in Hertz; May Seek Talks, Board Seat
Tweet TWEET

Gazprom to Raise Gas Exports This Year, Miller Says

(Corrects period after Gazprom press service says Miller misspoke in headline, first paragraph of report published June 16.)

OAO Gazprom plans to boost gas exports this year, after deliveries rose 22 percent in the first five months, said Chief Executive Officer Alexei Miller.

The Russian gas export monopoly increased total exports by 24 billion cubic meters in January through May, Miller said today, while presenting Gazprom’s pipeline-management center to Chinese President Hu Jintao and Prime Minister Vladimir Putin in Moscow. The company shipped 140 billion cubic meters of fuel to Europe last year.

Gazprom, which supplies about a quarter of Europe’s gas, benefited from unrest in Libya and Japan’s nuclear crisis. Demand for Russian fuel has been climbing this year at an increasing pace compared with a year earlier, Miller said last month.

Exports to Europe, excluding former Soviet republics, may reach 158 billion to 159 billion cubic meters this year, Deputy CEO Alexander Medvedev told Bloomberg TV today at the St. Petersburg International Economic Forum. “We are rather sure exports will be more than predicted,” Medvedev said.

To contact the reporter on this story: Marina Sysoyeva in Moscow msysoyeva@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.