RUSSIA - Current Exports.

Gazprom's gas exports to the non-FSU markets in the first four months of 2000 rose to 46.6 BCM, up 3% on the same 1999 period, according to preliminary data from the company's export unit Gazexport issued in May. Total exports in the first quarter of 2000 rose by 10.6% to 64.9 BCM, according to official data, and earned $4.7 bn - up 47.9% on the same 1999 period - because world oil prices rose considerably from late March last year.

The Moscow-based United Financial Group (UFG) said Russian gas exports to Europe this year were not likely to rise by more than 4% because of lack of transport capacity within Gazprom's system. UFG analyst Dmitry Avdeev was in June quoted as adding: "It's possible in the next 3-4 years we'll see 150 BCM/y of Russian gas exported to Europe but this year the deliveries will remain stable". He did not expect the spot market would affect Gazprom's term contract prices in 2000. The average sales price to Gazprom, about $92/1,000 CM, would remain stable and may even rise because of higher oil prices anticipated in the coming months (see OMT).