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Russian gas production to exceed 700 bcm in 2018, says energy ministry

In 2017, Russia produced 691.1 bln cubic meters of gas

MOSCOW, December 7. /TASS/. Russia’s gas production is on track to exceed 700 bln cubic meters in 2018, head of the Energy Ministry’s department of oil and gas production and transportation Alexander Gladkov said on Friday.

"A gas production record of over 700 bln cubic meters will be set," he said.

In 2017, Russia produced 691.1 bln cubic meters of gas, which means output might go up by 1.3% this year.

Earlier reports said that Gazprom increased gas production by 5.8% in January-November period of 2018 year-on-year to 451.1 bln cubic meters.

Chief Executive Officer of Gazprom Alexei Miller told TASS earlier that the company had revised upward its production outlook for this year from 476 bln to 495 bln cubic meters. In 2017, Gazprom’s gas output was 472 bln cubic meters, up 12.4% year-on-year. Thus, the company may boost production by 4.8% in 2018 according to the revised outlook.