Russia export record high volumes of natural gas to Europe, Turkey

Russian gas continues to flow to Europe and Turkey at all-time high levels in 2017 following record-breaking volumes last year, as cold weather across Europe -- especially in the east -- triggers increased demand for Gazprom gas.

Russian gas prices also remain competitive compared with European hubs -- the oil price rally of end-2016 will only filter through to oil-indexed gas contracts in the coming months -- so European buyers are thought to be maxing out their Russian gas purchases.

In a statement Monday, Gazprom said gas flows to what it calls the Far Abroad -- Europe and Turkey but not the ex-Soviet states -- hit a new daily record of 621.8 million cu m on Sunday.

That is the highest ever daily flow of Russian gas to Europe and Turkey, and came on a weekend day, when European consumption is normally lower, Gazprom said.

More at Platts.com.

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