Home Offshore Energy Gazprom production reduced 12% compared to same period last year

Gazprom production reduced 12% compared to same period last year

According to preliminary data, Gazprom produced 262.4 billion cubic meters of gas in January-July 2022. This is a decrease of 12 per cent versus the same period of last year.

The domestic demand for the Company’s supplies from the gas transmission system went down by 2 per cent over said period of 2022.

Gas exports to the countries beyond the FSU amounted to 75.3 billion cubic meters, which is 34.7 per cent (or 40 billion cubic meters) lower than the figure for the same period of 2021. Gazprom delivers gas in compliance with confirmed requests.

Gas exports to China via the Power of Siberia pipeline keep growing within the framework of the long-term bilateral contract between Gazprom and CNPC: they rose by 60.9 per cent over the first seven months of 2022. For instance, the month of July saw gas supplies regularly exceed the contractual daily volumes and the all-time record for daily exports having been broken three times.

Reduced gas consumption in the EU was a key factor driving the decline in global demand. According to the first preliminary estimates and the available current data, global gas demand in the first seven months of 2022 totaled about 35 billion cubic meters against the same period of 2021. In the 27 countries of the European Union, gas consumption fell by 31 billion cubic meters within said period of 2022.

According to Gas Infrastructure Europe (GIE), gas reserves contained in Europe’s underground gas storage facilities were replenished by 42.8 billion cubic meters as of July 30. Companies will have to inject another 29.6 billion cubic meters of gas into the UGS facilities to get them to the levels observed at the start of the 2019–2020 withdrawal period. Meanwhile, some European countries, such as Germany and Belgium, saw the amounts of gas withdrawn on certain days in July exceed the injected amounts at their UGS facilities.

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