29 Nov 2017 13:10

Gazprom to increase production to 470 bcm in 2017 from 419 bcm in 2016 - Miller

MOSCOW. Nov 29 (Interfax) - Gazprom expects to increase gas production to 470 billion cubic meters (bcm) in 2017 from 419 bcm in 2016, the Russian gas giant's CEO, Alexei Miller, said at a meeting with President Vladimir Putin on Tuesday.

"We expect that in 2017, Gazprom will produce 470 bcm, more than 50 bcm more than in 2016 and a growth of over 12%," Miller said.

The figures mentioned by Miller, if there is no significant rounding, indicate that Gazprom will reduce gas production somewhat in November or December compared to the same months of 2016. This November has been very warm in Russia, with average temperatures in the country about 5 degrees Celsius higher than a year earlier.