“Gazprom” can dramatically reduce its export of the “blue fuel”. While in 2014 they exported more than 191 billion cubic meters of gas, this year only 155-160 billion cubic meter can be supplied to the company’s foreign partners.
The reasons are clear: “Gazprom” has lost Ukrainian export market. In addition, the mining volumes are falling rapidly. Originally the production plan for 2015 was anticipated at 485 billion cubic meters of gas, but the latter estimate was reduced to 450 billion. “Gazprom” will be able to continue market expansion only after the construction of new export pipelines “Sila Sibiri” (“The Power of Siberia”) and “Altai” in Pacific-Asian direction. However, it will take at least 4-5 years.
This is not the first year export volume of “Gazprom” is falling. In 2014 it was measured at 191.45 billion cubic meters, decreasing 12% compared to the previous year, when this number exceeded 217 billion cubic meters.
European countries have sharply reduced gas consumption – by 9% in just last year. Moreover, it has been falling for four consecutive years.
Also it’s worth mentioning that Europe, which remains the main export destination of “Gazprom”, does not let the Russian company increase its market share. The share of Russian gas in the energy mix of the Old World is about 30%. In Brussels they believe that such a serious dependence on one supplier hurts the EU energy security. That’s why “Gazprom” was not allowed to use the already built the “Northern Stream” pipeline at its full capacity, as well as to build a new export route “Southern Stream”.
The EU was accusing “Gazprom” in violation of so-called Third Energy Package regulations, which assumes that the production, supply and sale of “blue fuel” should be performed by different and unrelated companies, while “Gazprom” performs all three functions, so it was forced to share the pipe with alternative suppliers, such as Azerbaijan.