GAZPROM PRODUCTION DOWN BY 18%

GAZPROM - October 17 - According to preliminary data, Gazprom produced 327.4 billion cubic meters of gas from January 1 through October 15, 2022. This is a decrease of 18 per cent (or 72 billion cubic meters) versus the same period of last year.

The domestic demand for the Company's supplies from the gas transmission system went down by 5.2 per cent (or 9.5 billion cubic meters) over said period.

Gas exports to the countries beyond the FSU amounted to 89.3 billion cubic meters, which is 41.4 per cent (or 63 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. The supplies regularly exceed the daily contractual volumes.

According to Gas Infrastructure Europe, gas reserves contained in Europe's underground gas storage facilities were replenished by 66 billion cubic meters as of October 15. Companies will have to inject another 6.4 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. Nevertheless, even getting the UGS facilities of major European countries to maximum levels of reserves would not guarantee a reliable performance in the upcoming autumn/winter period.

Also notable is the level of reserves observed at Ukraine's UGS facilities, which as of October 15 contained 14.3 billion cubic meters of gas out of the 19 billion required to be in stock by winter. Ukraine's representatives admit that filling up the storages is possible only in theory rather than in practice.

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