Gazprom is currently shipping as much gas to Europe as it typically does in winter months, and expects demand this summer to be close to winter levels, Alexander Medvedev, Deputy Chairman of the Management Committee at the Russian gas giant, told Bloomberg in an interview in Berlin. The coldest winter in Europe since 2012 depleted storage facilities across the continent that now need to be refilled. Industrial gas-fired power generation increases and economic growth in Europe further boost demand for gas, even if winter is now over and the period is generally a lull in gas demand and markets. “Minimal historical gas storage levels will mean that summer demand will match winter demand of the not so distant past, given the need to refill the stores,” Medvedev told Bloomberg. “In addition, our gas remains the most cost-competitive,” he added. Russia supplies around one-third of Europe’s gas and its closest […]