Gazprom executives discuss gas production

Gazprom chief Alexey Miller and Vasily Podyuk, the head of the department for gas, liquid gas and oil production, have held a working meeting today, at which measures aimed at increasing gas production were discussed, the press service of the gas holding reported.

At the meeting it was pointed out that the task on stabilizing and increasing gas production in 2002 had been fulfilled. Compared to 2001, the gas production volume advanced by 9.9bn cubic meters to 521.9bn cubic meters including 36bn from new wells. A considerable growth in gas production testifies to the fact that financial resources were concentrated and activities of corresponding departments of the holding were coordinated to achieve this result, the press service said.

Positive results were due to the strict implementation of the plan on measures aimed at increasing gas production. This document was approved at a session of the Executive Board of Gazprom in February 2002.

Participants of today's meeting stressed that Gazprom could have produced an additional 3.6bn cubic meters of gas in 2002. However, due to a lack of demand by Russian consumers last summer and restrictions on its exports, the gas giant did not increase its production volume.

The company's gas production is 2003 has been set to be 531.7bn cubic meters.

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