Blooberg: Gazprom May Surpass 2013 Gas Export Plan on Increased Demand

OAO Gazprom, the world’s biggest natural-gas producer, may export more fuel than planned this year as demand in Europe for Russian supplies increased amid lower shipments from other sources.

Export revenue, which will depend on oil prices and retroactive payments to European clients, will beat last year’s $55.9 billion, Deputy Chief Executive Officer Alexander Medvedev said in a corporate magazine e-mailed today.

Europe, which depends on Russia for about of quarter of its gas needs, has increased imports from the country as North Sea output declined, more liquefied natural gas was diverted to higher-priced markets in Asia and supply fell amid disruptions in Norway and North Africa.

“As exports from Russia increased, supplies to Europe from other countries declined,” Medvedev said. “Clients can optimize their portfolios during the course of the year, taking more gas from one source or another. At the moment, Russian gas is more attractive.” MORE