May 24, 2018 / 1:00 PM / in 25 days

Russia's Gazprom eyes gas exports rise to Europe where production is falling

MOSCOW (Reuters) - Europe’s declining gas production will ensure a steady rise in Russian gas imports by the continent which could grow as much as 50 percent by 2035, the head of Russian gas exporter Gazprom said on Thursday.

FILE PHOTO: The logo of Russian gas giant Gazprom is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. Picture taken June 1, 2017. REUTERS/Sergei Karpukhin/File Photo

The statement came as the European Union and Gazprom reaches an anti trust settlement.

Alexei Miller told an economic forum in St Petersburg that Europe’s gas imports would rise by 200 billion cubic meters (bcm) by 2035 and the lion’s share would come from Russia.

Russia can supply up to 100 bcm of those volumes, he said.

Gazprom current expects its exports to Europe to amount to 199 bcm this year.

Reporting by Dmitry Zhdannikov; editing by Jason Neely

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