RUSSIA GAS OF RUSSIA FORUM Caption: epa00867268 Newly appointed Acting Deputy Chairman of Gazprom's Management Committee Valery Golubev takes part in the international forum Gas Of Russia 2006 in Moscow, Tuesday 21 November 2006. The forum is an annual event to discuss the development of the Russian gas industry and its place in the world economy. EPA/SERGEI ILNITSKY
Gazprom sees five-year gas slump
Russian gas monopoly Gazprom believes global demand and it own gas production will be depressed by around 10% for the next four to five years, its deputy chief executive said today.
"A reduction in demand of 10% will continue for the next four to five years," Reuters quote Valery Golubev telling a conference.
Gazprom sees its position in Europe declining by 2020 as it focuses on liquefied natural gas exports and deliveries to Asia, he added.