Gazprom Expects 2015 Production at Around 450 BCM, Down on Lower Consumption, Ukraine

While keeping stable its gas production in the Sakhalin-2 project at 16 to 17 bcm in 2015, Russia’s Gazprom announced on Tuesday that total production for the year will be around 450 bcm. 

“As far as the first quarter is concerned, we have adjusted ourself by 16 billion. Towards the year-end, we expected 450 billion, which is comparable to last years” Vsevolod Cherepanov, Management Committee Member, said on Tuesday during a conference in Moscow available online.  

On the base of the first quarter, expected production has been therefore decreased by 35 bcm from 485 bcm announced at the beginning of the year. This would be related to the consumption in Europe, especially in Ukraine. 

The members of the Management Committee also said that pipes originally bought for South Stream will be used for the Turkish Stream. 

Also on Tuesday, Russian Foreign Minister Sergei Lavrov met with NATO Secretary General Jens Stoltenberg in Brussels. 

Meanwhile, the Ukrainian Government proposed a draft Law to give itself the power to terminate payments to the holders of international debt obligations.

‘To protect the interests of Ukrainian people, the Government of Ukraine submits to the Verkhovna Rada today the draft laws, those enabling the Government to suspend payments on certain external public debts and guaranteed by the government debts’ Kiev wrote on Tuesday.

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