Gazprom expects to export 60 billion cubic metres of gas to Europe, a drop in shipments compared to last year.

The Russian energy giant added that shipments for the full year should reach 140bcm, a dip on last year’s figures, according to a statement.

Gazprom officials told Reuters earlier that its exports for 2008 totalled 184.4bcm.

The company’s export chief Alexander Medvedev said in a statement that export sales are expected to fall to $40bn this year. Last year the company earned $65bn.

Medvedev added that Gazprom expects export prices to exceed $280 per 1,000 cubic metres this year.

Gazprom’s exports have been hampered by an ongoing row with Ukraine over payment for gas supplies.

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By GlobalData