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Gazprom expects price of gas supplies to Europe at $184 per 1,000 cubic meters in Q1

January 20, 2016, 11:43 UTC+3

Gazprom plans to supply 160 bcm of gas to Europe in 2016

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© Maxim Slutskiy/TASS

VIENNA, January 20. /TASS/. Russian gas producer Gazprom expects the price of gas supplies to Europe at the level of $184 per 1,000 cubic meters versus $284 in the same period last year, Chairman of its board of directors Viktor Zubkov said on Wednesday.

"In the first quarter of 2015 the price was $284 while according to [preliminary] estimates in the first quarter of this year it will be $184, which means we lose $100," he said.

According to Zubkov, Gazprom plans to supply 160 bcm of gas to Europe in 2016.

"Over the last 3 years Gazprom supplied 467.5 bln cubic meters [of gas] to Europe, which accounts for a third of consumed volumes. We expect 160 bln cubic meters this year," he said.

In 2015, the company increased its gas export to non-CIS countries by 8% compared with previous year - to 159.4 bln cubic meters. Average price for Russian gas was expected at $237-242 per 1,000 cubic meters for supplies to Europe in 2015.

Particularly, gas supplies to Germany rose by 17.1% in 2015, to Italy - by 12.6%, to France - by 36.8%, to Britain - by 10.2%, to Austria - by 11.5%.

As TASS reported earlier Gazprom forecasted gas export to Europe at 158 bln cubic meters for 2015. Gazprom Export decreased its gas supplies to European consumers (Western and Central Europe) in 2014 by 9.3% to 146.6 bln cubic meters.

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