Wednesday, 16 February 2011

Gazprom Expects Record 2011 Export Revenue of $72.4 Billion

OAO Gazprom expects 2011 total export revenue to top the 2008 record as natural-gas prices increase and demand for the fuel recovers in Europe.

Gazprom expects total export revenue of $72.4 billion this year, or $2.5 billion more than the record in 2008, Deputy Chief Executive Officer Alexander Medvedev said today in London. That includes $52.8 billion from exports of natural gas outside the Commonwealth of Independent States, he said.

Russia’s state-owned Gazprom, which expects European gas prices to rise 15 percent this year, plans to boost exports to the region. Sales to Europe are
planned at about 152 billion cubic meters of gas this year, compared with 139 billion cubic meters last year, according to a presentation to investors provided to Bloomberg.

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