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.
The U.S. economy probably shrank last quarter for the first time in three years, data this week may show.
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 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.
The European Union is seeking an agreement by the end of May on the price Ukraine pays for Russian natural gas as the threat of supply disruptions in Europe looms.
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, the world’s biggest natural gas exporter, plans to unify its west- and east-bound pipelines, which will increase competition between Europe and China for Russian fuel.
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.
"We hope that there will be no disruptions to transit."
- Alexander Medvedev on Mar 03, 2014