Gazprom Increases Gas Supplies To Europe

Russia’s Gazprom increased gas supply to Europe by 16% in 2013, while the average gas price paid by European companies fell by 5.5% to $380 1,000 cubic meters. The company, led by Alexey Miller, offered lower gas prices to Germany’s RWE and Italy’s Eni. 

Gazprom Export took advantage of the decline in gas supplies from Norway and the UK. The Moscow-based company, which provides about a quarter of Europe’s natural gas, also benefitted from the turmoil in Algeria and Libya. 

According to a press note released on Monday, supplies to Europe rose by 16% to 161.5 billion cubic meters, beating the record high of 160 billion cubic meters registered in 2008. 

The gas supplies to Italy rose by 60%, the shipments to Germany increased more than 20%. 

Earlier in December, Gazprom announced its natural gas export to Italy by 76% in the 11 months of 2013 in comparison with the same period of 2012. Italy is the terminal point of the South Stream gas pipeline.