Russian Ministry of economic Development: In 2015, Gazprom to reduce gas production to 414 billion cubic meters

According to the Russian Ministry of Economic Development, in 2015 Gazprom will reduce its gas production to 414 billion cubic meters. In 2014, the group produced of 444 billion cubic meters of gas and on the results of the current year it expects to maintain the production level of 450 billion cubic meters.

The Ministry notes that in the first six months of 2015, the production of natural gas decreased to 311.3 billion cubic meters (93.4% to the corresponding period of 2014) due to the reduction of the production by Gazprom’s enterprises by 13.1% to 209.2 billion cubic meters (according to the Russian Ministry of Energy), and their share in the total production volume continues to decline. "Independent producers and oil companies have a tendency to increase the gas production," - the report says.