Business » Companies
Author`s name Dmitry Sudakov

Gazprom Expects $20 Billion Losses in Gas Consumption in Europe

The drop in demand on natural gas in Europe will make up 5-7 percent in 2009 in comparison with 2008, Alexander Medvedev, deputy head of Gazprom said Tuesday at Russia’s Gas 2009 forum.

“The reduction of consumption will make up 5-7 percent – this is a record drop, which previously could be seen only in separate countries,” the official said.

The consumption of gas in Europe dropped by 7.5 percent (30.4 billion cubic meters) from January to August of this year. “The level of consumption does not go below the level of 2007,” Medvedev said.

The consumption will rise to the pre-crisis level by 2012 or earlier, experts say. Gazprom expects that the temporal abundance of gas on the European market will disappear by that time, Interfax reports.

In 2008, Europe consumed 517 billion cubic meters of gas, Eurogas sad. In 2020, the consumption of gas in Europe will grow to 683 billion cubic meters and to 742 billion – in 2030.

“In 2009, Gazprom intends to export 142 billion cubic meters of gas and 160.8 billion – in 2010,” Medvedev said.

The official previously said that Gazprom was expecting a 38 percent reduction in export income - to $40 billion vs. $60 billion in 2008.

The average price on Gazprom’s natural gas for European consumers may make up $280 per 1,000 cubic meters vs. the record $400 last year.

Comments
Gaddafi's predictions come true as Americans gang rape the world
Israel is always right, just because it is Israel. However, Russia is not addicted to BDSM
On the verge of war: NATO tries to take over former Soviet states
Israel is always right, just because it is Israel. However, Russia is not addicted to BDSM
Will Russia and USA clash in Syria?
Israel is always right, just because it is Israel. However, Russia is not addicted to BDSM
Israel is always right, just because it is Israel. However, Russia is not addicted to BDSM
Israel is always right, just because it is Israel. However, Russia is not addicted to BDSM
It's too early for Russia to think of China as alternative to the West
UK restaurant chain to sue Russian prostitute and British drug dealer
Will Russia and USA clash in Syria?
It's too early for Russia to think of China as alternative to the West
NATO to strike Russia through Suwalki Corridor
Israel is always right, just because it is Israel. However, Russia is not addicted to BDSM
Gaddafi's predictions come true as Americans gang rape the world
Gaddafi's predictions come true as Americans gang rape the world
Israel is always right, just because it is Israel. However, Russia is not addicted to BDSM
Israel is always right, just because it is Israel. However, Russia is not addicted to BDSM
Gaddafi's predictions come true as Americans gang rape the world
Israel is always right, just because it is Israel. However, Russia is not addicted to BDSM
Israel is always right, just because it is Israel. However, Russia is not addicted to BDSM