The Gazprom Board of Directors took note of the information on the Company’s long-term export strategy and policy for the gas markets of European Union member states.

It was noted that Gazprom was the largest natural gas exporter in the world and in Europe in particular. The Company currently continues to strengthen its standing in the EU market. In 2016, Gazprom exported a record 179.3 billion cubic meters of gas to Europe.

According to international industry experts, natural gas demand in the EU will remain stable in the long term. With domestic production in an ongoing slump, EU countries will need considerable amounts of additional imports, prompting suppliers, including Gazprom, to boost their exports to the region.

It was stressed at the meeting that the long-term strategic goal of the Company in the EU market was to bolster its position as the leading gas exporter via, among other things, ensuring excellent supply reliability, diversifying transportation flows, and optimizing marketing efforts.