Gazprom cuts output forecast to 570-580 bcm by 2015


Russia’s gas giant Gazprom has cut its gas output forecast for 2015 to 570-580 billion cubic meters per year due to worsening market conditions, the company said on Tuesday.

“As it was noted at a board of directors meeting, the development of internal and international gas markets helps forecast gas production of the Gazprom group at up to 570-580 bcm by 2015,” Gazprom said in a statement.

In the pre-crisis year of 2008, when the company produced about 550 bcm of gas, Gazprom CEO Alexei Miller said that output could grow to 570 bcm in 2010 and reach 610-615 bcm in 2015.

In November 2010, Gazprom cut its forecast for this year’s gas output to 515 bcm from 520 bcm.

Ria Novosti

RIA Novosti was Russia's leading news agency in terms of multimedia technologies, website audience reach and quoting by the Russian media.

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