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Gazprom See's Steep Production Declines 2022

NATURAL GAS

Gazprom's gas production is set to drop by a record 100 bcm this year, the largest decline in the company's history.

  • The decline was almost entirely concentrated in the second half of the year and largely driven by Gazprom's steep gas supply cuts to the European Union, which are set to fall by almost 80 bcm in 2022.
  • Russia’s domestic demand is also down by a estimated 5% according to the IEA.
  • Gazprom has lost its most secure and most lucrative European market and it will take at least a decade to build-up a similar export portfolio towards Asia the IEA said.


source: IEA

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