Europe & Russia: Trade
Russian supplies to Europe are on course to rise by 7% year on year in 2016.
Russian gas exports to Europe saw a significant rise in Q1, when they were up by 29%. However, Q2 Russian exports to Europe increased by roughly 2% year on year, and they are expected to rise by less than 1% in Q3. The surge of annual growth in Q1 2016 was caused by low supplies to Europe in Q1 2015, which were reduced to disrupt the reverse flows of gas into Ukraine. However, increased exports to Europe are expected this month. Russian exports to the region are anticipated to be around 13.8 bcm in September, up by 4% year on year.