2012 August 27   10:20

Russian gas exports decline

Russia's natural gas exports to non-FSU countries and the Baltic states decreased 3% to 67.3bcm in the first seven months of 2012, RBC reports citing the Economic Development Ministry.

The demand for Russian gas on foreign markets was flat as competition with other supplier was picked up, while gas consumption was down in the euro zone.

Exports to FSU states plunged 21.9% to 37.5bcm after Ukraine reduced gas imports by 10.2bcm or 36.6%, seeking to negotiate new prices for Russian gas.

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