Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you a link to reset your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you a link to reset password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Natural Gas

Gazprom to inject almost 9 Bcm into European storage facilities: CEO

LNG | Natural Gas | Natural Gas (European) | Natural Gas (North American)

Global gas, LNG markets twisted around bullish, bearish elements, awaiting arrival of winter demand

LNG | Natural Gas | NGL

Platts LNG Alert

Commodities | Agriculture | Coal | Electric Power | Natural Gas | Oil | Metals | Petrochemicals | Shipping

China Commodity Market Insights Forum

Natural Gas

Work begins to lay gas pipeline to link Romanian Black Sea fields to shore: BSOG

Gazprom to inject almost 9 Bcm into European storage facilities: CEO

Highlights

Lower than volume to be stored last year

Market environment 'normalizing': Miller

Expects 2020 to be in top five supply years

London — Russia's Gazprom plans to inject almost 9 Bcm of gas into storage in Europe in preparation for the coming winter, CEO Alexei Miller said Sept. 16.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Gazprom has been building up its gas storage capacity in Europe in recent years to give it more supply flexibility during the high-demand winter months.

The planned volume for this year is lower than the stocks it planned to build last year in Europe of at least 11.4 Bcm given the threat -- ultimately unfounded -- of disruption to Russian flows to Europe via Ukraine.

During a meeting with Russian President Vladimir Putin at the Kremlin Sept. 16, Miller also said stocks in Russia ahead of the withdrawal season would reach 72.3 Bcm, in line with levels last year.

"The implementation of all these measures will allow Gazprom to fully satisfy all the needs of our consumers in winter," Miller said according to a transcript of the meeting posted to the Kremlin website.

'Top five' year

Miller also told Putin that the market environment had been "normalizing" in the past few months and that gas exports to the Far Abroad (Europe plus Turkey and China minus the countries of the former Soviet Union) had rebounded in August compared with July.

"It is now possible to say with absolute certainty that in 2020 Gazprom will supply the Far Abroad countries with a volume of gas that will be included in the top five in the entire history of supply," Miller said.

In late August, Alexander Ivannikov, head of Gazprom's finance department, said Gazprom was forecasting sales in the Far Abroad of 170 Bcm this year, up from a previous prediction of 166 Bcm.

If Gazprom were to achieve sales of 170 Bcm in 2020, it would indeed be the fifth largest volume in the company's history, as Miller stated.

However, in volume terms it would still be well down on the four highest sales years from 2016-2019:

  • 2018: 201.4
  • 2019: 199.3
  • 2017: 193.9
  • 2016: 179.3

The next highest volume was 161.5 Bcm in 2013.