MOSCOW: Russian gas monopoly Gazprom plans to increase gas exports to Europe to over 152 billion cubic metres in 2011 from around 140 billion this year, two sources familiar with the plans told Reuters on Friday.
Gazprom exported more than 180 billion cubic metres of gas in 2008 before the economic crisis saw exports fall to 140 bcm the following year.
The company has said it expected 2010 gas exports to be flat comparing to 2009 figure.
SSAB warned in late December its earnings in the fourth quarter would fall close to zero hit by lower shipments and production problems as it faced weaker demand in the European market. The company, maker of niche steel products, has been struggling to cover higher raw material costs in full with price increases in recent quarters and its shares have slid more than 10 percent over the past year.
"Having now entered the first quarter, the market picture is somewhat brighter than we experienced during the fourth quarter of 2010," the company said.
"It is believed that demand in Europe will generally continue to develop positively, although still slowly during the first quarter," it said, adding that its Americas business had a good order book and was fully booked for the first quarter.
A stronger Swedish currency the crown has soared to a decade-highs against the euro in recent weeks has also weighed on the company which has roughly half its cost base in Sweden but most of its sales abroad.
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