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FX.co ★ Germany ups Russian gas purchases

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Forex Humor:::2015-07-10T14:43:00

Germany ups Russian gas purchases

Amid loud statements on both sides, the news that Germany increased its purchases of Russian gas more than twofold seems a bit strange. Shrewd Germans, despite political differences, follow the ancient Russian proverb - "make provision for a rainy day but in good time" and gradually fill the storages with Russian fuel. According to the official statistics on export supply, the volume of purchased gas rose by 20 percent in June. In May, the growth rate reached a record high of 68 percent. This data was confirmed by the Information Administration of Gazprom. "Germany increased purchases from Gazprom in June, and it is continuing to expand the buying up of Russian gas. In June 2015, exports to Germany grew by 20.2 percent compared to the same period last year," the statement of Russian gas monopoly Gazprom said. Importantly, this information was released by Gazprom, without disclosing the details. At the same time, Germany is not the only country that strenuously buys Russian gas. Gazprom's export growth to the CIS countries posted positive dynamics. In June, the figure came in at 6 percent compared to a year earlier. The total volume of gas sold during this month hit the level of 13.1 billion cubic meters. However, following the results of the first six months of 2015, exports fell by 8 percent to 74.6 billion cubic meters.

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