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Alexey Miller
overestimates the 2011 gas production volume
At a
recent
meeting with Prime Minister Vladimir Putin, Gazprom CEO Alexey
Miller estimated the 2011 gas production volume of Gazprom at 520
bcm. "Gazprom will have produced about 520 billion cubic metres of
gas by the end of the year. Last year we produced around 508
billion", Mr.
Miller said.
Mr. Miller's estimation
contradicts the production volume for January-November 2011 and the
peak production capacity of Gazprom.
Gazprom Gas Production
in 2011, bcm
A simple math exercise
shows that in case of a record cold December, the 2011 production of
Gazprom can reach 512 bcm. Under the average conditions, the
production level will be close to that of the previous year.
Mikhail Korchemkin
East European Gas
Analysis
Malvern, PA, USA
December 6, 2011
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