Russian natural gas firm Gazprom PJSC’s daily gas exports in the first two weeks of the year fell to the lowest level in six years, amid criticisms that the firm is keeping its supplies within Europe.
- The firm exports some 5.4 billion cubic meters to key markets which cover the majority of Europe, Turkey, and China. This reflects a daily average of 360 million cubic meters and nearly 18% below the previous month’s average.
- Daily flows outside European Union borders fell to an average of 250.5 million cubic meters in the first half of January, a little over half of the volume recorded a year ago based on data on its website.
- Gas shipments to Europe have been monitored closely, amid the shortage of fuel which has already hit economies in the area. Antitrust officials are awaiting explanations from the firm regarding the limited supply.
- The decline in exports comes even as Gazprom production in the first half of January averaged 1.54 billion cubic meters a day, the highest in seven years since 2014 based on Bloomberg calculations.
Russian President Vladimir Putin in December said Gazprom was complying with long-term supply deals.
Source: Bloomberg
