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Gazprom Sees Europe Gas Demand In 2020 Up 12.5% To 700 BCM/Year



LONDON -(Dow Jones)- Russia's state-controlled natural gas monopoly OAO Gazprom (GAZP.RS) expects annual demand for gas in Europe to grow to 700 billion cubic meters in 2020, up 12.5% from the current level, the company said in a statement late Thursday.

According to the statement, Gazprom expects a 6.5% rise in demand for gas in North America to more than 800 billion cubic meters a year and a 59% rise in the Asia-Pacific region to more than 710 billion cubic meters a year.

"Demand for gas is growing in Russia and abroad, exceeding precrisis levels," the company said.

According to the statement, Russia's daily gas consumption is currently at the same level it was in October 2008.

Sale volumes in Europe since July 2009 exceed sale volumes for the corresponding months of 2008 and 2007, Gazprom said.

-By Alexander Kolyandr, Dow Jones Newswires; +44 (0)20 7842 9410; alexander.kolyandr@dowjones.com


  (END) Dow Jones Newswires
  10-30-090815ET
  Copyright (c) 2009 Dow Jones & Company, Inc.

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