Europe & Russia: Trade
Russia will continue to increase supplies to Europe in July as it boosts production.
Russian gas flows to Europe have increased as requirements for gas for storage builds across the region and increased demand in southern markets have supported the need for more imports. This is a trend that is set to continue over the coming weeks. Russian exports to Europe were up by 7.7% on an annual basis in June and are expected to rise by 9.8% year on year in July, to 14.4 bcm. Russia exported 95.7 bcm of gas to Europe in H1 2017, an increase of 13% year on year. With strong gains expected over the coming weeks, Russian exports to Europe for 2017 as a whole are set to exceed the total for 2016.
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