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Gazprom to produce 670 billion cubic metres of gas by 2020

AFP
MOSCOW
Petroleumworld.com 06 15 07

Russian gas giant Gazprom has raised its gas production forecast for 2020 to 670 billion cubic metres a year, from 590 billion cubic metres previously, Russian news agencies quoted deputy chairman Alexander Ananenkov as saying on Thursday.

The change represents an increase of 13.6 percent.

"If the economic conditions are positive or very positive on the market we will be able to reach such a level of production," he told a news conference in Moscow.

He said that for the 2010 period the maximum production would be from 560 billion to 570 billion cubic metres. In 2007 Gazprom plans to produce 557 billion cubic metres, one billion more than last year.

Ananenkov said Gazprom had 182.5 billion dollars (137 billion euros) of reserves, added to 24 billion dollars for its oil subsidiary Gazpromneft.

AFP 14 1307 GMT 06 07

Copyright© 2007 AFP. All Rights Reserved.

 

 

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