Gazprom posts production plans

Russia's natural gas giant Gazprom is going to produce 530bn cubic meters of gas a year throughout 2030. It will also increase gas exports by 20-27 percent over the next five to seven years compared to the current level of 160-170bn cubic meters, a source in the company reported. In 2003, the gas holding plans to increase gas production by 1.9 percent against 2002, from 521.9 to 531.7 billion cubic meters.

According to Gazprom's estimations, the volume of planned gas production will not meet the demand of all domestic gas consumers. This means that Gazprom will be interested in a rise in gas supplies by independent producers. Experts forecast such gas supplies will reach 32.5bn cubic meters in 2003 and 118.2bn by 2010.

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