Europe & Russia: Trade

August 2016

Exports from Russia to Europe are expected to rise on an annual basis in August.

Russian flows to Europe could reach around 14.8 bcm in August, which would be a 8% rise year on year. Supplies came to around 85 bcm in H1 2016, up by around 15% on an annual basis. Although Europe is reasonably well stocked, additional storage supplies will be needed and this will support requirements for Russian gas over the coming months. While seasonal forecasts remain tentative, initial outlooks suggest this winter could be colder than last, which was relatively mild. If the start of the winter is particularly cold, this will support continued year-on-year growth in Russian supplies to Europe in H2.