New Russian losses in European gas market

According to figures from the International Energy Agency, the countries in Western and Central Europe, as well as Turkey, in the first half of the year increased gas imports with eight percent compared with the same period in pre-crisis 2008. At the same time, Gazprom lost further market shared in the region, newspaper Kommersant reports. According to figures from 2008, Gazprom in 2010 exported 14 percent less to the European countries.

Gas consumption in the region in the period increased with one percent compared with 2008 figures.

The winner of the competition is first of all Norway and Qatar. While Russia lost 14 percent of the market, Norway increased its stake with 28 percent and Qatar with 363 percent compared with 2008.

Read more: Gas problem for Norway and Russia

Norway now seems to catch up with Russia as the biggest supplier to the continent. While Russia in July 2010 sold 8,83 billion cubic meters to clients in Europe, Norway sold 7,68 billion cubic meters. In the same period in 2008, Russia sold as much as 10,66 billion cubic meters.

The quick changes in the gas market is partly triggered by EU policies, which after the serious crisis in Russian supplies the last years have decided to seek diversification of suppliers. The losses for Gazprom is even more serious considering that gas prices in the period dropped significantly. However, Gazprom still making good money on alternative businesses and believes the situation in gas supplies are likely to turn again soon.

Read more: Bigger revenues despite lower gas sales for Gazprom

Gazprom leader Aleksey Miller says to Kommersant that he in the long-term perspective expects Russian gas to regain stakes in the market because of the declining production in the EU countries. He also sees positive tendencies with a significant export increase compared with 2009 figures, Kommersant writes.