Gazprom exports down sharply on year

MOSCOW, Nov. 16 (UPI) -- Russian energy giant Gazprom said its natural gas exports fell 21 percent from a year ago January through September.

Exports to Europe fell 20.7 percent in the first nine months of the year compared with the same period a year ago, RIA Novosti reported Monday.

Exports to the Commonwealth of Independent States -- former members of the Soviet bloc -- fell 22 percent in the same period.

For the year, Gazprom forecast export revenue would equal $40 billion this year. A year ago, export revenues were up 60 percent, compared with 2007.

Alexander Medvedev, president of Russian and the head of Gazprom's export division, said he expected the company's share of the European market, historically at 25 percent, would increase to 33 percent by 2020.