OREANDA-NEWS. Gazprom is ready for the current surplus of gas in the world market and sees a tendency to balance the market in the near future, including due to increased demand in Asia. This was announced in an interview with the corporate magazine by the deputy chairman of the board of Gazprom, the general director of Gazprom Export, Elena Burmistrova.

“Today's oversupply in the European market is a challenge for players, Gazprom is ready for it better than anyone else. But we expect the market to come to an equilibrium soon. Low gas prices in the near future will provoke a reduction the supply volume, as well as the growth in demand, primarily in Asia, where the transition from coal to gas will accelerate”, Burmistrova said.

According to the head of Gazprom Export, such a long-term factor as a reduction in own production in Europe will also play a role in bringing the market into balance. In recent months, the Netherlands has expressed a desire to stop production at the Groningen field even faster than previously planned.