Gazprom dep chair expects 'cold, good' winter 2021/22 for company

ST PETERSBURG. Oct 6 (Interfax) - Gazprom's management is expecting a cold winter 2021/22, Deputy Chairman of the Management Board Vitaly Markelov told reporters.

The Russian gas concern said earlier that it assessed last winter, the effects of which the market has still not overcome, not so much as cold, but as long and drawn out.

"A good, cold winter for Gazprom," Markelov said, sharing the corporation's expectations with reporters.

Asked what output would be like in Q4 2021 given that the company had fulfilled its production growth target in 9M - of 55 billion cubic meters against the whole of 2020, to over 510 bcm -, he said: "I'll answer as I answered earlier: everything in fact depends on demand and cold weather or warm weather. We are working under demand. There has been an excess. Now it is a small excess, and the question is what it is in excess of: if it's 2020, then this is a significant excess. If it's the plans, then that's another matter."

Markelov confirmed the latest output forecast for 2021, which the company voiced in August. "That forecast, yes. Over 510 [bcm]," he said.

He additionally said that the concern was continuing to pump gas into Russian underground storage (UGS) facilities. As reported, in the injection season, Gazprom needs to make up for the record withdrawal from 2020/21 of 61 bcm and reach the level of 72.6 bcm by the start of the upcoming withdrawal season.

"Our UGS facilities are filled in the fall-winter period. We are already moving into the winter period, but we still haven't started withdrawal. We are pumping for now; it is still warm. Everything is always in order [according to the schedule] at Gazprom," Markelov said.