OAO Gazprom expects revenue from natural-gas exports to Europe to jump 37 percent this year after prices for the fuel rose and demand recovered.
OAO Gazprom sees its average price for Europe dropping for the first time in four years as customers win additional concessions from the world’s biggest natural-gas producer and oil prices ease.
OAO Gazprom expects 2011 total export revenue to top the 2008 record as natural-gas prices increase and demand for the fuel recovers in Europe.
OAO Gazprom, Russia’s gas-export monopoly, said U.S. pressure won’t stop it from supplying fuel to Europe and increasing market share in the region.
Back in April 2007, in the midst of the greatest commodities rally on record, OAO Gazprom’s deputy chief executive officer, Alexander Medvedev, was talking big.
OAO Gazprom, the world’s largest natural gas producer, will strive to forge supply deals with India and China this year as it seeks to win customers outside of Europe, where demand is waning.
The U.S. economy probably shrank last quarter for the first time in three years, data this week may show.
"We hope that there will be no disruptions to transit."
- Alexander Medvedev on Mar 03, 2014