Russian anti-monopoly body asks Gazprom to increase domestic gas sales

Gazprom logos are displayed at the Bovanenkovo ​​gas field in Russia’s Arctic Yamal Peninsula May 21, 2019. Picture taken May 21, 2019. REUTERS/Maxim Shemetov/Files

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MOSCOW, Sept 27 (Reuters) – Russia’s Federal Antimonopoly Service (FAS) said on Monday it had recommended energy giant Gazprom (GAZP.MM) to sell more gas through a national exchange to offset shortages and tackle the price increase.

Gazprom has struggled to produce enough gas to meet demand following a fire at its processing facilities at Urengoy in the Arctic last month.

It also means it has been unable to boost gas exports to Europe, where prices have soared.

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FAS said that due to a drop in natural gas supplies in August, “unmet” domestic demand for gas stood at 1.1 billion cubic meters (bcm).

He said Gazprom had suspended domestic gas sales since August 9.

According to FAS, Gazprom’s sales on the national stock exchange increased last year to 12.1 billion m3, compared to 11 billion m3 in 2019. In January-August 2021, they reached 3.6 billion m3.

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Reporting by Maxim Rodionov and Vladimir Soldatkin; Editing by Kirsten Donovan

Our standards: The Thomson Reuters Trust Principles.

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