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Gazprom Lowers its Production Forecast in 2015

In the new quarterly report, the Russian gas giant Gazprom has once again updated its estimate of production for the current year.

The Company lowered its production forecast by 4% from 444.6 billion cubic meters (announced in August) to427 billion cubic meters.

The initial production target for 2015 was 485.36 billion cubic meters.In 2014, Gazprom has extracted 443.9 billion cubic meters of natural gas.

Net profit of Gazprom (under RAS) for 9 months of 2015 amounted to 169.754 billion rubles. This is a 4.7-time increase for the Company compared to January – September 2014 (35.793 billion rubles.)

This year Gazprom’s revenues increased by 8% to 3.09 trillion rubles; gross profit – by 0.9% to 1.42 trillion rubles.