Gazprom’s gas exports demonstrate upwards

Russian national gas utility Gazprom increased its gas supplies to foreign markets other than those of the former Soviet republics in the first three months of 2013. Thus, in May the growth was 16.2 percent. According to the central executive control office of the fuel and energy sector, Gazprom’s exports to European countries reached 9.407 billion cubic meters in April. In March, Gazprom demonstrated a record-breaking export growth dynamics, with gas exports jumping by 33.6 percent to 12.463 billion cubic meters. By March 25, the company reached an unprecedented daily export of gas of 520 million cubic meters, or up by 1.6 times on the same day a year before, the company then noted. “Daily gas exports to Europe have been steadily growing throughout March, reaching their peak volumes,” Gazprom said. In March, analysts said that the company had managed to reverse the downwards export tendencies only thanks to the then weather conditions and growing spot prices for gas on the European market. In April however, Gazprom’s exports continued to grow. They went up by approximately four percent as compared with April 2012 and reached 10.0789 billion cubic meters. Some analysts say this three-month-long growth of Russian gas exports testifies to the end of the shale gas revolution.