Decline in Russian Energy Company Gazprom's Natural Gas Exports

Gazprom announced that its natural gas exports decreased by 26.9 percent on an annual basis in the first four months of this year. The decrease in production was recorded as 2.5 percent.

Decline in Russian Energy Company Gazprom's Natural Gas Exports. Gazprom, which made it compulsory to pay in Russian rubles in response to the sanctions of Western countries due to the Ukraine War, came to the fore when it stopped natural gas shipments to Poland and Bulgaria last week. The world's largest natural gas producer has warned that unless they agree to pay in rubles, all deals with other countries will be terminated. On the other hand, the European Union (EU) argued that Russia's proposal for a ruble payment was a unilateral move that went against the contracts. Poland and Bulgaria buy gas from their EU member neighbors, according to EU Commission President Ursula von der Leyen, and the era of Russian fossil fuels in Europe is finished.

Export and Production Decreased

According to the statement made today by Gazprom, which meets about 40 percent of Europe's natural gas needs; The company's natural gas production in the first four months of the year decreased by 2.5 percent compared to the same period of the previous year and became 175.4 billion cubic meters. In the said period, the company's natural gas exports to countries outside the Commonwealth of Independent States (CIS) decreased by 26.9 percent compared to the same period of the previous year and were recorded as 50.1 billion cubic meters. In the statement, it was emphasized that the company's exports to China increased by 60 percent compared to last year, and it was stated that the shipments to Europe continued in line with the contracts.