Gazprom's exports to Europe plummet to 50-year low

Gazprom delivered only 9.93 billion cubic metres of gas to its European clients in January–July 2025, almost half the amount supplied over the same period last year (18.3 billion cubic metres).

Source: The Moscow Times, an independent Amsterdam-based news outlet

Details: This decline is due to the loss of transit through Ukraine, as well as the limited capacity of TurkStream, the only operational pipeline supplying gas to the EU.

Forecasts show that if export volumes remain at the current pace, Gazprom may supply only about 17 billion cubic metres of gas to Europe by the end of the year, setting a new record low for the company since the 1970s.

Compared with peak export volumes of 170–180 billion cubic metres annually before 2019, the current figures have dropped dramatically.

Since the beginning of 2025, Russia has lost transit through Ukraine, and although supplies via TurkStream rose by 7% compared with the previous year, this increase was insufficient to offset the loss of Ukrainian pipeline capacity, which could transport more than 140 billion cubic metres of gas annually.

As a result, Gazprom has been forced to reduce gas production. According to Russia’s Federal State Statistics Service, in the first half of 2025, gas production in Russia fell by 3.2% year-on-year, while liquefied natural gas (LNG) production dropped by 5.2%.

In 2024, Gazprom extracted 416.19 billion cubic metres of gas, of which only 355.23 billion were sold on external and domestic markets. This left the company with around 60 billion cubic metres of unsold gas.

Background: On 1 January 2025, Ukraine stopped the transit of Russian gas. The gas transmission system has since been operating in a non-transit mode.

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