Gazprom's European Export Recovery Unlikely Before 2035

Russia | June 5, 2024, Wednesday // 10:00|  views

A comprehensive report commissioned by Gazprom, conducted by external analysts, reveals a bleak outlook for the company's future in Europe. The analysis indicates that Gazprom is unlikely to regain its pre-war export levels to Europe, its primary market, until at least 2035, if ever. The report, spanning 151 pages, was exclusively cited by the Financial Times.

According to the findings, Gazprom, a state-controlled entity, is projected to export only 50-75 billion cubic meters per year to Europe by the middle of the next decade. This represents just a third of its export levels before February 2022, when Russian aggression in Ukraine significantly impacted its operations in the region.

Elina Ribakova, an expert from the Washington-based Peterson Institute for International Economics, offered a grim assessment of Gazprom's situation, stating, "It's very dark. Gazprom is at a dead end and they know it very well."

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Tags: Gazprom, europe, Russian

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