Gazprom Misses Own 2021 Gas Export Target After Flows Capped (1)

Russian gas giant Gazprom PJSC missed its own “conservative” target for 2021 exports to Europe, and those capped flows contributed to the continent’s worst energy supply crunch in decades.

Gazprom delivered 185.1 billion cubic meters to its main clients abroad, including Turkey, China and Europe, excluding the former Soviet Union nations, Chief Executive Officer Alexey Miller said in a statement on Sunday. That’s 3.2% above 2020 levels, but lower than 2018 and 2019, which were around 200 billion cubic meters.

Deliveries to Europe and Turkey were about 177 billion cubic meters last year, according to calculations by Bloomberg News and ...