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Russia April Gas Exports Fall On Spot Price Drop, Warmer Weather

  • Gazprom sold 407 mcm/d to key foreign clients to date in April
  • The producer has pumped an average of 1.393 Bcm/d this month
A worker turns a valve wheel at a gas well on the Gazprom PJSC Chayandinskoye oil, gas and condensate field in the Lensk district of the Sakha Republic, Russia.
A worker turns a valve wheel at a gas well on the Gazprom PJSC Chayandinskoye oil, gas and condensate field in the Lensk district of the Sakha Republic, Russia.

Source: Bloomberg

Gazprom PJSC’s average daily exports to key foreign buyers so far in April fell to lowest in three months, as warmer weather and lower spot prices started to lure European clients away from Russian gas.

The gas giant exported an average of 407 million cubic meters a day to countries outside the former Soviet Union in the first 15 days of April, according to Bloomberg calculations based on a Gazprom statement published Friday. That’s nearly 18% below the daily average for the month of March. The company’s year-to-date exports to its key markets tumbled more than 26% compared to the same period of 2021 to 44.6 billion cubic meters, Gazprom said.