Supply Figures Up, Says Gazprom

Chief executive of Russia's Gazprom, Alexey Miller, says trends so far this year support his company's belief that exports will recover to 2011 levels, due mostly to the severe and protracted winter in Europe.

In March 2013, the company sold nearly a third more gas than in March 2012.

“If the trend that we have seen since the beginning of the year continues, I think that our forecast is realistic,” Miller said. “There is still lots of time ahead. We will see how the market will act. So far the trends are very favorable for gas.”

Gazprom increased exports 6% in the first quarter from the same period a year earlier, he told reporters. The gas monolith was on course to fulfil its projection to export 151.8 billion cubic meters of gas to non-CIS countries.

Exports fell 7.5% to 138.8 bcm last year as European economies continued to drag, and countries relied on their own reserves. This year March was unusually cold in Germany, Gazprom’s biggest market in western Europe, as well as hitting a 50-year low in the UK.

Miller made the comments after returning from the Netherlands, where he signed deals with Royal Dutch Shell and Nederlandse Gasunie NV during a visit by President Vladimir Putin.

"No one but us could supply these volumes to the European market," he said.