Gazprom sees output falling as European gas demand declines

23/04/2019 09:53 Natural Gas

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Gazprom PJSC forecasts a conservative natural gas production outlook for 2019, based on warm weather and growing competition from Russian-piped super-chilled fuel.

“We plan to produce 495 Bcm of gas this year,” deputy CEO Vitaly Markelov said in an interview to the in-house publication, reiterating a conservative forecast the company’s executives made in February.

 

That volume would mark Gazprom’s first drop in output in five years, from 497.6 Bcm in 2018. The energy company revises its output plans several times a year based on demand in Europe, its largest market. The region currently has plenty of gas in storage after a warm winter reduced consumption.

Source: worldoil.com

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