MOSCOW, September 1 (Sputnik) — Russia's energy giant Gazprom is planning to deliver up to 158 billion cubic meters of natural gas to Europe in 2015 at average price of $237-242, the company's export arm said on Tuesday.
"The [average] price, as we estimated before, will be at the level of $237-242 for 1,000 cubic meters, while the volume of export will be 158 billion cubic meters this year, its the most recent assessment," Valery Nemov, a Gazprom Export official, told investors in a conference call.
On September 7-10, Gazprom is expected to launch, for the first time ever, an auction to offer Europe additional gas deliveries for winter 2015-16, according to the company's CEO Alexei Miller. The auction is not an alternative to regular gas deliveries to Europe.
Gazprom is the largest extractor of natural gas in the world, accounting for 12 percent of global gas output. It possesses some 17 percent of the world's gas reserves.
