Gazprom cutbacks
Oct 25 (LNGJ) - Russian natural gas company Gazprom is paying an increasingly high price for sanctions over the Ukraine invasion by Russia and has now lowered the corporate investment programme for 2023 from 2.30 trillion roubles ($24.4 billion) to 1.99 trillion roubles ($21.5Bln) because of “the change in macroeconomic indicators and the market situation” generally.
“We provided for the reduction of revenues from gas sales in the new budget version due to the decline in market prices of gas in the first half of 2023. However, this is appropriately recognised in our operating costs - the total effect from their optimisation will be over one trillion roubles ($10.6Bln),” said Gazprom Deputy Chief Executive Famil Sadygov. “I would like to note we continue implementation of key projects. In particular, the comprehensive development of the ‘Power of Siberia’ gas pipeline and its backbone fields and expansion of the Yamal gas production centre,” added Sadygov.
Yamal LNG operator Novatek posts higher gas sales in Russian Federation and lower LNG volumes sold
Novatek, the largest Russian natural gas company after Gazprom and operator of the Yamal liquefied natural gas export plant in northern Siberia, has issued third-quarter production and sales details showing higher domestic gas sales and much lower volumes of LNG sold.
