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Gazprom January-July output down 12% YoY

01 August 2022 14:49 (UTC +04:00)

Russian energy giant, Gazprom revealed in its preliminary report on Monday, that the production of gas declined by 12% in the period from January to July of this year, when compared to the same time period the year before, totaling the output of gas to 262.4 billion cubic meters, APA reports citing Teletrader.

Furthermore, the company reported a 2% decrease in domestic market demand for gas, while exports to non-CIS countries plummeted by 34.7% year on year. The largest drop in gas demand was seen in the EU, with the preliminary figure standing at 35 billion cubic meters lower for the first seven months of the fiscal year, compared to the same period in 2021.

However, gas exports to China reached a new high, increasing by more than 60% over the course of seven months via the Power of Siberia pipeline.