Gazprom Export to Add Major New Gas Reserves. Eyes More Auctions

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Gazprom may hold more auctions to sell gas into Europe`s hub markets this year and could lift gas exports above record levels hit in 2016 as it plans to add major new reserves. Gazprom Export Chief Executive Elena Burmistrova said on Tuesday.
Burmistrova said Gazprom plans to increase reserves by 470 billion cubic meters of gas this year on the back of developments in east Siberia. the Yamal Peninsula and around Sakhalin island. she said.
This is why Gazprom is investing in new infrastructure such as Nord Stream II and TurkStream. Burmistrova said in reference to two planned pipeline projects aiming to supply Germany and Turkey. respectively.
Gazprom held a trial gas auction in late 2015. selling more than 1 billion cubic meters (bcm) for delivery to north-western Europe from 3.2 bcm on offer.
Gazprom exports met around 34 percent of European gas demand in 2016. a record high.