Accessibility links

Breaking News

Russia's Gas Exports to EU, Turkey Down in November

A man in a wheelchair is reflected in a mirror, as he watches a news broadcast showing Russia's President Vladimir Putin speaking at a news conference during his visit to Turkey, at a gerontological center in Stavropol, southern Russia, Dec. 2, 2014.

Russian gas producer Gazprom's gas exports to the European Union and Turkey declined by a quarter in November, an industry source told Reuters on Tuesday, underlining the difficulties it faces in its key markets.

Russian gas exports fell to 10.5 billion cubic meters (bcm) in November, down from 14 bcm in the same month last year, the source said,

A spokesman for Gazprom declined to comment.

This brings year-to-date Russian gas exports to the two key markets, where it generates up to 80 percent of its revenues, to 145 bcm from 135 bcm in January-November 2013.

Gazprom has said it plans to export up to 157 bcm of gas this year to the European Union and Turkey, down from 162 bcm in 2013. The source said that 150 bcm was now a more realistic target.

Europe has seen demand fall for gas, shrinking by 7 percent year-on-year in 2014 so far.

Russia caters for around a third of the European Union's gas needs. On Monday, Russian President Vladimir Putin said Moscow had dropped plans to build the South Stream gas pipeline to Bulgaria via the Black Sea and was contemplating an alternative route to Turkey instead.