Gazprom says production increases by 15 percent since 2009

8th October 2010, Comments 0 comments

Russia's gas giant Gazprom had a 15 percent increase in production in the first nine months of 2010 compared to last year, when it was hit by a loss of demand, chief executive Alexei Miller said Friday.

"Gazprom extracted 365.5 billion cubic meters of gas in the first nine months of 2010, which is 15 percent more than the same period of last year," Miller told Prime Minister Vladimir Putin in a meeting, RIA Novosti agency reported.

In March, Miller indicated that the company intended to return to pre-crisis production levels after seeing a 14 percent year-on-year increase in the first two months of the year.

Gazprom was hit by a drop in demand in Europe in 2009 and a gas conflict with Ukraine in January that disrupted deliveries to European countries. Production fell by 16 percent to 460 billion cubic meters.

Miller also said that the company's gas exports would grow by about 3.0 percent in 2010 to 145 million cubic meters. Last year, Gazprom exported 140.65 billion cubic meters of gas.

© 2010 AFP

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