中文
In northwest Europe and Italy, record consumption of natural gas inventories has exacerbated Gazprom’s sales losses in the region.
According to Reuters and refinitiv data, the decline in Gazprom’s gas exports to the region has led to a 4% drop in its gas market share in the first half of 2020, from 38% a year ago to 34% now.
Sales of Gazprom’s competitors, including equinor, fell by 4 billion cubic meters, which means equinor actually has more market share, supplying 26% in the first half of the year, compared with 25% last year. North Africa’s market share in the region fell by 1 percentage point.
Kallanish energy quoted data from the Federal Customs Service that in the first five months of this year, Gazprom’s gas export revenue fell sharply by 52.6% to $9.7 billion. Its natural gas shipments fell 23% to 73 billion cubic meters.
High inventories have pushed gas prices to record lows and affected producers around the world, including the United States. U.S. production is expected to decline by 3.2% this year as a result of a decline in natural gas consumption and a reduction in drilling activity as a result of the outbreak.
Alexander ivannikov, chief financial officer of Gazprom, said falling gas prices would stimulate consumption in Europe and the rest of the world.