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Gazprom says ready to meet growing demand for gas in Europe

VIENNA, January 24. /TASS/. Gazprom is ready to meet the growing demand for gas in Europe, delivering it as much gas as necessary. At the same time, infrastructure for supplies would not cost European taxpayers anything, Deputy Chairman of Gazprom Management Committee Alexander Medvedev said on Tuesday.

He recalled that last year, Gazprom exported almost 180 bln cubic meters of gas to non-CIS countries.

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Gazprom chairman says gas will follow oil in global energy balance by 2040

"Our gas was and still remains the most popular gas in the European market. According to preliminary estimates of analysts of Eurogas, gas consumption in Europe last year grew by 36%, even though the European economy is recovering slowly, its growth will not exceed 2%," he said. Medvedev noted that reduction of coal consumption and investment in renewable energy are among the European market trends.

He noted that Europe does not have enough of their own resources to meet their needs. "Hopes to repeat the shale revolution in Europe did not come true, and US LNG was sent to other markets. Gazprom remains the sole supplier, ready to deliver gas in any amount. We are able to export the necessary volume of gas to Europe," he said.

Medvedev added that in order to "ensure growth of consumption tomorrow, large-scale investment decisions must be made today."

"Gazprom continues to invest in Europe's energy more than anyone else. Gazprom is ready to build infrastructure that will not cost European taxpayers anything," he said, adding that all projects of Gazprom are justified from a commercial standpoint.

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