Gazprom Output To Rise 5% In 2015 After Fall This Year

Reuters

ST PETERSBURG, Russia, Oct 7 (Reuters) – Russia's top natural gas producer Gazprom expects its gas output to rise by around 5 percent next year, Vsevolod Cherepanov, a member of the management board, said on Tuesday, as this year's production is poised to drop to an all time low.

Gazprom expects its gas output to fall to 463 billion cubic metres (bcm) this year due to a pricing dispute with Ukraine, however some analysts believe that it would barely reach 450 bcm, a record low level since 1989, when the company was created out of the Soviet gas ministry.

In January-September, Gazprom's natural gas production reached 311.6 bcm.

"We are planning, studying our potential and readying production facilities to satisfy demand," Cherepanov told reporters.

Gazprom has also lost market shares to its rivals, such as Novatek and Rosneft.

(Reporting by Denis Pinchuk; writing by Vladimir Soldatkin; editing by Alessandra Prentice and William Hardy)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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