14 May 2018 16:57

Gazprom 16 bcm ahead of 2018 production target

MOSCOW. May 14 (Interfax) - Gazprom is currently running 16 billion cubic meters ahead of its approved 2018 production target, which is 475.8 bcm, the Russian giant's deputy CEO, Vitaly Markelov, told a press conference.

"The past winter differed a little from the winter before. Accordingly, we are producing gas at a 16 bcm above target today. We are of course currently considering adjusting [the target] in production going by the first- and second-quarter results," Markelov said.

"We have got through this difficult winter without cutting a single consumer off, and it was a month longer than last. Europe wasn't expecting it to be winter in March" he said.

He said Gazprom's production in 2018 ought to be higher, "objectively, at least" it should be higher than the increasing volume of gas withdrawn from storage facilities in Russia and Europe.