Russia's Gazprom says H1 gas exports to Europe fell 18%

Russia's Gazprom says H1 gas exports to Europe fell 18%

Natural gas exports from Russia's Gazprom to Europe, including Turkey, fell 18% in the first half of the year to 78.94 billion cubic metres from 96.43 bcm a year earlier, the company reported on Thursday, Reuters reports.

The sharp decline makes its harder for Gazprom to reach its target of more 166.6 bcm in exports this year, as gas demand has been depressed due the fallout from the coronavirus pandemic.

The company has said it expected European gas demand to start recovering from the third quarter.

Gazprom said on Thursday in its report under Russian Accounting Standards, that its gas supplies to China, started in December 2019, reached 1.57 bcm in January-June.

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