UPDATE: Gazprom sees gas output rising 11.7% to 506.5 bcm in 2021

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MOSCOW, May 27 (PRIME) -- Russian gas giant Gazprom expects its gas production to increase 11.7% to 506.5 billion cubic meters in 2021, the company said in a presentation on Thursday.

In 2020, Gazprom’s gas output stood at 453.5 billion cubic meters.

Deputy CEO Vitaly Markelov said the company expects that its gas reserves will grow by over 506 billion cubic meters in 2021.

Sergei Menshikov, a member of the management board and director of the production department, said that Gazprom plans to significantly raise investments in geological exploration in 2021 from 50 billion rubles in 2020.

Gazprom plans to produce over 100 billion cubic meters at the Bovanenkovo field annually in 2021–2022, Menshikov also said.

(73.4737 rubles – U.S. $1)

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