Gazprom budgets for gas supplies to Europe to rise to 183 bcm at $170 per 1,000 cubic meters in 2021

13:33, 23.12.2020 1 min read

Gazprom has budgeted for gas supplies to Europe to rise moderately to 183 billion cubic meters at $170 per thousand cubic meters in 2021, CFO Famil Sadygov said in an interview with the gas giant's in-house magazine.

The average gas price would be 35% higher than in 2020.

"When working on our budget, we proceeded from a principle of moderate optimism, whereby the gas market in 2021 should gradually leave the perfect storm of this year behind. We have budgeted in 2021 for moderate growth in exports to the European market to 183 bcm, or just over 13 bcm more than we budgeted this year. The average price of gas supplies to Europe in the 2021 budget is $170 per thousand cubic meters, which is $44 or 35% more than the price we budgeted for 2020," Sadygov said.

Gazprom's gas supplies to countries outside the former Soviet Union, including China, are expected to exceed 177 bcm in 2020, deputy chairperson of the company's executive board Yelena Burmistrova said during a meeting with investors.