Gazprom Faces Biggest Drop in Europe Revenue in Five Years
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OAO Gazprom, the world’s largest natural gas exporter, faces the biggest decline in European gas revenue in five years as demand weakens and after buyers negotiated discounts.
The company estimates fuel supplies to the region at 157 billion cubic meters this year or “slightly” less, while it sees an average price of about $350 per 1,000 cubic meters, Mikhail Malgin, a deputy department head at Gazprom’s export unit, said today on a conference call.