Russia's gas monopoly Gazprom expects export revenues, one of the company's key earnings figures, to rise further in 2011, the deputy chief executive of the world's largest gas producer told Reuters Insider TV. Export revenues are set to continue their rise after advancing to the predicted $45 billion this year, Gazprom deputy chief executive Alexander Medvedev said in an interview on Friday.
"In 2011 we anticipate that there will be more gas sold and that the level of the price - we are rather sure - will not go down, in view of the situation with the spot market as well as the crude oil price situation," Medvedev said. The price for oil has recovered to $77 a barrel on Friday in the United States, the world's largest market for the fuel, after reaching a low of under $65 a barrel in May.
Gazprom's total revenue is are predicted to rise to $124.4 billion in 2011 from an estimated $113.1 billion this year, according to Thomson Reuters StarMine. StarMine gives more weight to more recent analyst estimates and to analysts who were more accurate in the past than their peers.
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