Russian natural gas monopoly Gazprom OAO's (GAZP.RS) Deputy Chief Executive Alexander Medvedev said Thursday he expects demand for Russian gas to increase again in coming years after the economic crisis eroded demand in Europe.
"We expect an increase in demand for Russian gas and other supplies by 2012 or 2013 at the latest," Medvedev told reporters on the sidelines of an energy conference in Berlin.
He added that Gazprom supplies around 150 billion cubic meters of gas a year to Europe. However, in 2009--a "crisis year," characterized by a sharp drop in demand--Gazprom exported around 142 BCM to Europe, Medvedev said.
Medvedev added that Gazprom expects to finalize a plan to supply China with Russian gas by the "middle of next year."
Gazprom aims to supply around 60 BCM a year to China via pipeline, Medvedev added.