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    Gazprom output up 10.5% y/y in Jan-Mar

Summary

The Russian company considered March a winter month in terms of gas demand in Europe.

by: Joe Murphy

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Gazprom output up 10.5% y/y in Jan-Mar

Russia's Gazprom produced 136.2bn m3 of gas in the first three months of 2021, marking a 10.5% increase year on year, the state-owned company reported on April 2.

Gazprom's domestic sales increased by 21.4% to 17.3bn m3, while exports to countries beyond the former Soviet Union (FSU) soared 30.7% to 52.7bn m3. Exports to non-FSU countries in Europe were higher in March than in February, the company said, meaning the former "was essentially a winter month from the point of view of consumer demand for Gazprom's gas."

Over the first quarter, Gazprom saw the biggest y/y growth in sales to Turkey, which surged 106.6%. Sales to Germany increased by 33.3%, Poland by 18.5%, Serbia by 71.3%, Finland by 67.3%, Romania by 90.4%, Bulgaria by 52.4% and Greece by 23.4%.

"Gazprom continues to ramp up its gas exports to China via the Power of Siberia gas pipeline," it said. "The supplies are regularly in excess of the company's daily contractual obligations."