Arab Today, arab today gazprom raises \11 europe revenue to 60 bln
Last Updated : GMT 19:10:18
Arab Today, arab today
Arab Today, arab today

Gazprom raises \'11 Europe revenue to $60 bln

Arab Today, arab today

Arab Today, arab today Gazprom raises \'11 Europe revenue to $60 bln

Moscow - Novosti

Russian energy giant Gazprom has raised its forecast on 2011 revenues from gas exports to Europe to $60 billion from $53-55 billion on strong performance in the first five months of the year, Gazprom Deputy CEO Alexander Medvedev said on Monday. \"We have a forecast of $60 billion, considering larger sales,\" Medvedev said. Gazprom\'s revenues from gas exports to Europe totaled $36.3 billion in January-May 2011 compared to $59.5 billion for the whole of 2010, Medvedev said. \"This year will be a record year,\" he said. Medvedev earlier said that Gazprom\'s total revenues from exports to CIS countries, a loose association of former Soviet republics, and non-CIS countries could hit $72 billion in 2011. Gazprom may export up to 158 billion cubic meters of gas to Europe this year, he said. \"Our forecast is 155 billion cubic meters to Europe or 158 bcm in the best-case scenario,\" he said. Last year, Gazprom exported 138.6 bcm of natural gas to Europe.

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