Gazprom gas exports to Europe, Turkey set for fresh record

|By:, SA News Editor

Gazprom's (OTCPK:OGZPY) natural gas exports to Europe and Turkey are poised to exceed 2016 levels and hit a new record, marking a year of strong demand for Russian gas across the continent.

Platts reports Gazprom YTD has exported 179.8B cm to the so-called "Far Abroad" - Europe and Turkey but not the countries of the former Soviet Union - higher than last year's then-record high of 179.3B cm.

Russian gas flows via the three main routes to Europe - the Nord Stream, Yamal-Europe and the Brotherhood pipelines - hit 120.9B cm, up on the volume received in the Jan. 1-Dec. 7 period last year of 107.2B cm.

According to Platts, Nord Stream has run at a record high utilization rate of 87% in 2017, compared with rates of 80% in 2016, 71% in 2015, 65% in 2014 and just 43% in 2013.