Reuters: Russian Gas Exports Jump as Europe Stockpiles Cheap Fuel

Russian gas sales to Europe jumped to an all-time high in July, gas export monopoly Gazprom said on Monday, as European customers capitalized on a steep fall in prices.

Gazprom's gas prices are pegged to oil with a six-month lag, which means its customers are currently paying the equivalent of $45-$50 per barrel seen in January 2015 when oil prices crashed following a decision by OPEC not to reduce output.

The jump in exports will help Gazprom to endure one of the worst years in its history.

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