Supply & Demand

Gazprom output at new low as exports and power demand fall

Gazprom had a bleak July as the halt in supplies to Ukraine and seasonal factors weighed on exports, while other sources of power muscled in on gas’s share of the Russian domestic market Gazprom had a bleak July as the halt in supplies to Ukraine and seasonal factors weighed on exports, while other sources of power muscled in on gas’s share of the Russian domestic market.
By Alexey Novikov 1 August 2014 0 12107
The Adler thermal power plant in Russia. Output from thermal plants fell by 3% over 30 June-30 July. (Gazprom)

Demand for Gazprom’s gas declined across the board in July, sending production down by 15% year on year to 27.21 billion cubic metres, according to Interfax calculations based on operational data from the Central Dispatching Department of the Fuel and Energy Complex.

Daily production slumped to a record low of 825.7 million cubic metres (MMcm) on 29 July, the last day for which data is available – 253 MMcm less than on the same day last year. 

The company is facing reduced demand because of full underground...