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Tuesday, 02 December, 2008, 02:20 GMT | more >>

Novatek cuts output figures



By Upstream staff 

Russian gas producer Novatek will produce less gas than expected this year due to the warm winter, but is sticking to its upbeat output forecast for 2010, chief financial officer Mark Gyetvay said today.

Gyetvay told a conference call the company's production would amount roughly to 2006 levels of around 28.7 billion cubic metres. It had previously expected to pump 30 Bcm this year.

But he said the company was sticking to its gas production guidance of 45 Bcm per annum by 2010 as it saw no threat that competing gas projects in West Siberia would create a bottleneck in Russia's gas transportation system.


Tuesday, 28 August, 2007, 14:13 GMT  | last updated: Tuesday, 28 August, 2007, 14:21 GMT

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