Gazprom Expects Small Output Drop While EU Seeks to Reject Its Gas
- 2022 output is expected to fall 4% to 494.4bcm: Deputy CEO
- Europe is taking steps to reduce reliance on Russian producer
Pipework showing flow direction at the Kasimovskoye underground gas storage facility, operated by Gazprom PJSC, in Kasimov, Russia.
Source: Bloomberg
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Gazprom PJSC expects a moderate decline in its 2022 gas production despite Europe, its single largest market, seeking to reduce its dependence on the Russian fuel this year.
Russia’s gas giant plans to produce 494.4 billion cubic meters of the fuel in 2022, Deputy Chief Executive Officer Vitaly Markelov said in an interview with the company’s in-house magazine Thursday. That’s a 4% drop from last year, when Gazprom’s gas production reached 13-year high.