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Saturday, August 19, 2017

Gazprom working to ensure adequate supply of gas to Europe over winter season

Russia's Gazprom is taking steps to ensure the provision of gas from subsurface storage units to the European market this winter.

The company also plans to increase its storage capacity by as much as five percent of the annual supply for export, the Voice of Russia reports.

"As of today, Gazprom has access to subsurface storage in Austria, Great Britain, Germany and Serbia," a company statement said, according to Voice of Russia. "Currently, Gazprom can store five billion cubic meters of gas in European storage."

Alexei Miller, the head of Gazprom, said last month that the company deposited more than 2.6 billion cubic meters of gas in European subsurface storage units and plans to transport more than five billion cubic meters of gas there.

While Gazprom plans to provide Europe with 158.4 billion cubic meters of gas this year, Alexander Medvedev, the deputy chairman of Gazprom's board of directors, said the supply could be even higher, depending on weather conditions, the Voice of Russia reports.

Last year, the company provided Europe with 161.5 billion cubic meters of gas.