Supply & Demand

Russia’s gas exports to Europe hit record high in 2017

Russian gas exports to Europe reached a record level of 193.9 billion cubic metres in 2017, Gazprom Chief Executive Alexei Miller has said.
By Staff reporter 4 January 2018 0 28954

Russian gas exports to Europe reached a record level of 193.9 billion cubic metres in 2017, Gazprom Chief Executive Alexei Miller said on Wednesday.

The low cost of Russian volumes relative to other suppliers ensured European customers stuck with Gazprom, despite the European Commission’s efforts to diversify the EU’s supply sources.

Russia looks set to strengthen its hold on the European market in the coming years following the completion of the Nord Stream 2 and Turkish Stream pipelines.