Gazprom raises gas production by 8.5%, export - 5.8%

Russian gas giant Gazprom has increased gas production by 8.5% to 270.1 billion cubic meters in the period from January 1 through to July 15, 2018, the company said in its report, adding that its export to non-CIS countries has grown by 5.8% to reach 108.9 billion cubic meters.

In addition, the company reported 6.7% (by 1.1 billion cubic meters) growth of gas production to 17.1 billion cubic meters on July 1 - July 15, as compared to the same period of the preceding year.

Gazprom’s sales on the domestic market through the state gas-supply network have gone up by 5.3% (by 7 billion cubic meters) since the beginning of the year.

In particular, the company reports hike in the gas export to Germany by 12.2% (by 3.5 billion cubic meters), to Austria - by 52.3% (by 2.1 billion cubic meters), to the Netherlands - by 61.9% (by 1.4 billion cubic meters), to France - by 12.5% (by 0.8 billion cubic meters), to Croatia - 45% (0.6 billion cubic meters) and to Poland 6.7%.

Shortly ago, Gazprom CEO Alexei Miller said that the company’s gas export to Europe may hit report high of 200 billion cubic meters in the current year. Touching upon key factors for the gas demand growth, he mentioned an increase of the economic activity in European countries and long-term trend for the drop in Europe’s gas production which formed in the recent years.

In 2017, Gazprom raised gas production by 12.4% to 471 billion cubic meters, as compared to 2016. This year, the company hopes for one-percent growth in gas production (to reach 476 billion cubic meters). However, Gazprom does not rule out that the forecast may be reviewed and raised.