Russian gas giant OAO Gazprom (GAZP.RS) said Monday that exports to its most lucrative market in Europe grew 16% last year to the highest level since the 2008 financial crisis.
Russian gas giant OAO Gazprom (GAZP.RS) said Monday that exports to its
most lucrative market in
Europe
grew
16% last year to the highest level since the 2008 financial crisis.
Preliminary data show that exports to what Gazprom calls "far-abroad countries,"
which includes
Europe
and
Turkey
but
excludes former Soviet republics, grew to 162.7 billion cubic meters last year,
the company said in a statement.
"We continue to register an increase in demand for Russian gas in
Europe
also
at the start of this year," Gazprom Chief Executive Alexei Miller said in
a statement.
Gazprom's profit slumped in 2012 due to increased competition and lower demand.
But exports grew last year as European customers refilled stocks after a long,
cold winter and deliveries of liquefied natural gas, or LNG, decreased.
Gazprom said it slightly increased overall gas production by 400 million cubic
meters to 487.4 billion cubic meters.
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