NEWS & EVENTS: Breaking News
29.06.2009 11:05
June 29. Gazprom sees demand picking up from European consumers and hopes this year a contraction in gas production volumes will not be as serious as the company believed a week ago. In addition to gas volumes it extracts on its own, Gazprom would like to replenish its portfolio by purchasing gas from Azerbaijan and it hopes to enter into a number of relevant agreements in Baku next week. Gazprom CEO Alexey Miller said Friday the gas giant could produce 500-510 bcm of gas in 2009 or 7% less than the 550 bcm extracted last year. Miller’s gas output forecast announced after the AGM turned out to be more optimistic than statements made by his deputy Alexander Ananenkov last week who estimated production in the range of 450-510 bcm. “Gas output of 450-460 bcm is yesterday’s numbers. Gazprom could receive the highest gas volumes, if things unfold under a favorable scenario, could be 500-510 bcm this year,” Miller said noting final figures could be lower.
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