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Tuesday, June 16, 2009

Gazprom: 2010 Gas Output 507 BCM; Delays Major Field Launch

MOSCOW (Dow Jones) -- Russian gas giant OAO Gazprom (GAZP.RS) expects to produce 507 billion cubic meters of gas in 2010, the company's Deputy Chief Executive Alexander Ananenkov said Tuesday. The company plans to produce 510 billion cubic meters and 523 billion cubic meters in 2011 and 2012, respectively, Ananenkov said. Ananenkov also said Gazprom will delay the launch of its key Bovanenkovskoye field on the Yamal peninsula by one year to 2012 due to low demand at home and in European markets. Gazprom originally intended to start production form the field in the third quarter 2011.

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