Europe & Russia: Trade
Russian gas exports will rise in June, supported by stock rebuilds in Ukraine and Europe.
Russia is expected to export 14.3 bcm of gas to Europe in June. This will represent an increase in flows of nearly 7% on an annual basis and will follow increases seen over the last nine months. Total imports of Russian gas between October 2016 and June 2017 are expected to rise by around 15% on an annual basis. Imports have increased by an average of 12% per month so far this year. The strong flows in recent weeks have been supporting Europe’s storage builds, and flows are anticipated to continue to rise over the coming months. Even with potentially weak demand in some markets, requirements for additional gas for storage and increasing gas use in markets such as Italy are likely to support the need for Russian gas.