CEO: Gazprom’s gas output hits record of 514.8 bcm in 2021

MOSCOW, Jan 10 (PRIME) -- Russia’s Gazprom natural gas production jumped by 62.2 billion cubic meters (bcm) on the year to a 13-year record of 514.8 bcm in 2021, the company said in a statement on January 2 on its Telegram channel quoting CEO Alexei Miller.

“In 2021, we produced 514.8 billion cubic meters. This is the best result for the past 13 years that represents growth of 62.2 billion cubic meters compared with 2020. The increase in Gazprom’s production accounted for a lion’s share of the global increase in gas consumption in 2021,” he said, as quoted by the company.

Gazprom’s exports to the non-CIS countries rose by 5.8 bcm to 185.1 bcm in 2021, becoming the company’s 4th best result in its history. Exports to Germany grew by 10.5%, to Turkey by 63%, and to Italy by 20.3%. Exports to China through the Power of Siberia pipeline has been steadily rising, and the actual supplies outperform the contracted amount, he said.

Gazprom’s supplies to the internal market went up by 31.9 bcm to 257.8 bcm in 2021, setting a record since 2013, Miller said.

These results should allow Gazprom’s net profit to hit an absolute record in 2021, meaning that the company dividends will also be record high not only for it, but all Russian public companies, he added.

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