Gazprom's natural gas production fell sharply in the first 11 months

Recently, Gazprom announced that, according to preliminary statistics, from January to November 2022, Gazprom will exploit a total of 376.9 billion cubic meters of natural gas, a decrease of 19.4% from 2021.

During the same period, the demand for Gazprom's natural gas in the Russian domestic market also fell by 5.7%. In addition, Gazprom exported 95.2 billion cubic meters of natural gas to distant neighboring countries, a decrease of 44.5% compared to the same period in 2021. Gazprom said that the company is still supplying gas in accordance with the confirmed application.

Gazprom stated that the reduction in natural gas consumption within the EU has become a key factor in the decline in global demand for the company's natural gas. According to preliminary estimates and available real-time data, global natural gas demand will be reduced by 55 billion cubic meters in the first 11 months of 2022. Among them, the gas consumption of the 27 EU member states has been reduced by about 50 billion cubic meters, and that of the UK has been reduced by more than 6 billion cubic meters.

Gazprom also stated that the decline in the company's monthly statistics of natural gas extraction compared to the same period of the previous year is expanding. Previously, during the statistical period from January to October, the company's natural gas production decreased by 18.6% year-on-year, from January to September by 17.1% year-on-year, from January to August by 14.6% year-on-year, and from January to July by 12% year-on-year.