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Upward trend in gas exports from Russia persists in 2018

In 2018 exports of gas supplies from Russia continued to increase. In January-April, Gazprom increased export of gas to non-CIS countries by 6.3% to 70.3 bcm, despite growing prices. In the first quarter of 2018, Russian gas was priced at $232.04 per 1,000 cubic meters (+18% year-on-year). As a result, Russia's 3-month earnings from gas exports grew by 29.3% against January-March 2017 to $12.4 billion, according to the latest issue of AK&M Information Agency's RUSSIAN INDUSTRIES: PRODUCTION, FINANCE, SECURITIES bulletin addressing the oil and gas industry.

In mid-April, oil prices started to grow to reach $78 per barrel on May 10, the highest value since November 2014. The growth was mainly driven by growing tension in the Middle East following the U.S. rocket assault on an air base in Syria.

Nord Stream 2 expects to start the actual laying of the Nord Stream gas pipeline in the waters of Germany in mid-May. Finland gave consent to the project in early April, while Germany started consultations about the development of the because of gas production falling in EU started consultations about the plan of development of its gas network in 2018-2028 taking into account the sinking production in the EU and the supply of gas via Nord Stream 2. In the meantime, Poland brought an action against Gazprom and five more companies over the financing of the gas pipeline construction, while Russia is ready to build Nord Stream 3 if Europe recognizes the need for new transport routes, Gazprom said.

More information is provided in the latest issue of the RUSSIAN INDUSTRIES: PRODUCTION, FINANCE, SECURITIES bulletin (no. 1059).

"AK&M", 14.05.2018 18:41


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