Gazprom Targets 5% Rise in Gas Exports to Europe in 2015

Gazprom CEO Alexei Miller has said the Russian gas giant will increase its exports to European customers by 5% this year compared to 2014, TASS reported.

Speaking at a business conference in Belgrade, Serbia on Thursday, Miller said the rise in Russian gas exports will come as a result of a drop in gas output in Europe.

Declining production in Europe will be dominant factor over the next 15 years, he said, according to TASS.

Miller also said that Gazprom’s current share of 30% of the European gas market could increase to 35% by 2020.

Gazprom’s exports to customers in western and central Europe dropped by 9.3% to 146.6 billion cubic meters last year. While gas exports to Germany and Italy decreased by 3.8% and 14.4%, respectively, exports to Turkey rose by 2.3%.

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