Mon. Dec 17th, 2018

Russia will extract more than 700,000 million cubic meters of gas in 2018

Russia will extract more than 700,000 million cubic meters of gas in 2018



The gas extraction in Russia will exceed 700,000 million cubic meters in 2018, informed today the director of Extraction and Transport of Oil and Gas of the Russian Ministry of Energy, Alexandr Gladkov.

"By the end of 2018 we expect to exceed 700 billion cubic meters (of gas)," he said during the Russian Gas 2018 forum, according to the Russian news agency RIA Nóvosti.

Regarding liquefied gas, Russia will start producing almost 20 million tons, he added.

The Russian gas giant Gazprom has increased gas extraction to 451,100 million cubic meters in the first eleven months of the year, which translates into an increase of 5.8% over the same period of 2017.

In the whole of 2017, Gazprom increased gas extraction by 12.4% compared to 2016, to 471,000 million cubic meters.

In mid-October, the president of the company, Alexei Miller, estimated that, at the end of 2018, annual production could approach 500 billion cubic meters.

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