MOSCOW, April 22 (RIA Novosti) – Russian energy giant Gazprom expects to boost its gas exports to Europe, where demand for gas imports is expected to rise long-term as regional extraction drops, the company said Tuesday.
At a meeting on Tuesday, Gazprom's board of directors discussed prospects for the international gas market, geopolitical issues and ways to increase energy independence.
Gazprom believes there will be an increased demand for Russian natural gas in Europe due to an expected broader use of natural gas fuels in the future for vehicles and maritime transport.
The rise in demand will increase the import of pipeline gas and liquefied natural gas (LNG), the company said. It also predicted that new projects could face an LNG shortage amid governmental initiatives to limit its export to some countries.
“In this situation, by boosting gas exports to Europe, including as part of the Nord Stream and South Stream projects, and fulfillment of LNG projects in Baltic states and the Far East will allow Gazprom to meet the increased demand among European consumers and come up with additional volumes of Russian gas to the premium market of the Asia-Pacific region,” the statement said.
