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Gazprom expects Turkey to become its largest client


BY ANDREY OSTROUKH

MOSCOW -- Turkey may become the largest client of Russia' s gas monopoly Gazprom, exceeding Germany' s imports in the short-term, the company' s chief executive said Friday.

"Turkey is interested in increasing purchases of our gas. The basis for it are rising needs and maybe a lack of supplies from other suppliers," Alexei Miller told a conference, which was broadcasted on a state-owned broadcaster Russia 24.

Mr. Miller said that Turkey' s gas imports could rise 20% in the near future. He also said the prospects of supplies to Europe look promising after the world' s largest natural-gas producer has shipped nearly 80 billion cubic meters in the first half of 2013, a 10% growth on the same period a year ago.

Gas supplies to Europe are now running at levels seen during this winter, Mr. Miller said, adding that he expects Gazprom' s share of total supplies to Europe to reach 33% by 2030 from 26% seen last year.

Gazprom has been under pressure recently from shrinking sales in its most lucrative European market amid an economic slowdown and increasing competition. This year customers in Europe have demanded price cuts after the region was flooded with gas supplies intended for the U.S. market that were not needed because of the rapid rise in shale gas output there.

Dow Jones Newswires

06/28/2013

 

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