Reuters: Russia's Gazprom Faces Falling Gas Sales to Europe

Plunging sales to Europe and falling energy prices are not only sapping the revenue of Russia's top natural gas producer Gazprom but also depriving the country's budget of much-needed funds.

Gazprom usually contributes almost one fifth of federal budget revenue, an amount the finance ministry would love to have this year as it tries to build up its resources to weather an economic crisis deepened by Western sanctions over Ukraine.

But a mild winter, better energy efficiency and a reluctance in Europe to take gas from Russia which is under European Union and U.S. sanctions have meant some of the gas company's main customers have halved their supplies.

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