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Gazprom’s gas production to grow by 12% in 2017

Gazprom's natural gas production is expected to reach 470 bln cubic meters

MOSCOW, November 28. /TASS/. Gazprom expects natural gas production to be 470 bln cubic meters in 2017, Chief Executive Officer of the company Alexei Miller said on Tuesday.

"We expect Gazprom will produce 470 bln cubic meters of gas in 2017. This is 50 bln cubic meters more than in 2016; growth is over 12%," Miller said.

It was reported earlier Gazprom reported potential production growth in 2017 to 460 bln cubic meters or by 8.8% year-on-year. Company’s production in 2016 was 419.1 bln cubic meters.

Gazprom also plans to set an absolute record of natural gas export totaling 192 bln cubic meters as of 2017 year-end, according to Miller.

"As far as export is concerned, if the trend we see during the last eleven months continues, and we supplied 13.5 bln cubic meters of gas more for export versus the like period of 2016, then Gazprom will set an absolute record of gas export deliveries throughout its history as of 2017 year-end - 192 bln cubic meters," Miller said.

Gazprom can therefore increase its export by 7% year-on-year in 2017. The gas holding boosted its non-CIS gas supplies by 12.5% to 179.3 bln cubic meters last year.

Gazprom will fully meet its obligations on gas suppliers in Russia and abroad in two coming years along with commitments on commissioning strategically important investment projects and winter season support, Miller said.

"In 2017, Gazprom will supply 5 bln cubic meters of gas more to consumers on the domestic market, in such sectors as electric power, metals, agro-chemistry and cement industry," the top manager said.