OREANDA-NEWS.   The Gazprom Board of Directors approved the Company's policy on export routes diversification and additional measures aimed at increasing the reliability of gas supplies to European markets.

For over 40 years of gas deliveries to Europe Gazprom has gained a reputation of a reliable supplier who fully complies with its obligations.

With a view to improve the reliability of supplies the Company carries out projects for building new export gas pipelines which mitigate transit risks. The Yamal – Europe gas pipeline is up and running. Two strings of the Nord Stream gas pipeline are laid under the Baltic Sea. There is a possibility to extend this pipeline corridor by building one or two additional strings.

The South Stream project is progressing according to schedule and ready to supply its first gas in late 2015. All the contracts are signed for the construction of the first two offshore sections of the gas pipeline. The final investment decisions are adopted in Bulgaria, Serbia, Hungary and Austria.

Gazprom is active not only in the segment of pipeline infrastructure. The Company is currently engaged in the Baltic LNG project. The main LNG supply destinations are new and promising markets of South and Central America, the Middle East and India, European countries which are currently not receiving Gazprom Group's pipeline gas (Spain, Portugal, Ireland) and other markets of Europe.

Moreover, the thought is given to possible ways of expanding the scope of LNG-LNG swap deals.

The Company is proactively involved in UGS development in Europe in order to provide additional security of uninterrupted gas supplies to European consumers. Today Gazprom Group has access to the working capacities of UGS facilities located in Austria, the UK, Germany and Serbia. Gazprom's UGS capacities in Europe account for 5 billion cubic meters.

The Company is taking extra precautions to ensure gas supplies to the European market from the EU gas storages during the 2014–2015 winter period.

In line with the decision adopted by the Gazprom Management Committee in 2011, the UGS working capacity will be expanded to reach 5 per cent of the export gas supplies by the Company.