Arab Today, arab today gazprom sales to europe increase
Last Updated : GMT 16:25:50
Arab Today, arab today
Arab Today, arab today

Gazprom sales to Europe increase

Arab Today, arab today

Arab Today, arab today Gazprom sales to Europe increase

Moscow - UPI

Russian energy company Gazprom said Thursday its net volume of natural gas sent to Europe and elsewhere for 2013 increased roughly 10 percent year-on-year. Gazprom published its financial information for the first six months of 2013, ending June 30. It said it delivered 3 trillion cubic feet of natural gas to Europe and elsewhere in the reporting period, up from the 2.7 trillion reported for the same period last year. Gazprom reported its sales and delivery information for Europe and other countries, former Soviet republics and in Russia. The company said its net sales from gas to Europe and other countries increased 13 percent from the same period last year. "This change was primarily due to increase in volumes of gas sold by 10 percent, or 268 billion cubic feet, which was reinforced by the increase in average realized prices in ruble [the Russian currency] terms, including customs duties, by 3 percent," the company said. Gazprom didn't report exclusively on sales to countries in the European Union. The EU has turned to rival suppliers in the Caspian region to break the Russian grip on its energy sector. Russia meets about 20 percent of Europe's gas needs. Gazprom, meanwhile, has started focusing on Asian economies, where demand for natural gas is increasing.

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