Gazprom reduced natural gas production in 2016

Gazprom production

Gazprom productionGazprom reduced natural gas production by 1.3% since the beginning of the year to almost 372 billion cbm, according to the Russian Ministry of Economic Development. At the same time, the statistics show that overall gas production in Russia increased by 0.4% to 573 billion cbm. The share of Gazprom in total yield of Russia decreased by 0.7 percentage points to 64.9%. This means that the so-called independent producers in Russia, which are companies not related to Gazprom, are starting to increase its share in this sector.

For the period of January-November 2016 in Russia was reported a drop in gas exports to CIS countries (union of 11 former Soviet republics). However, this is offset by increased domestic demand and increased exports to Europe.

According to the Ministry of Energy of Russia at the end of November, the exports of gas increased to 176.7 billion cbm. Only Gazprom has exported 161.6 billion cbm of natural gas to Europe. This represents an increase of 11.8% over the same period last year.

The trend towards growth will most likely continue until the end of the year. On several occasions in recent weeks, gas giant reported a record in the supply of gas to European customers.

Russian companies exported 30.8% of the gas extracted. During the same period of 2015 the share of exports was 29.3% of total production in the country.

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