Gazprom’s bleak prognosis

Lower demands might reduce Gazprom’s production to 450-490 billion cubic meters this year, company deputy Aleksandr Ananenkov confirms. -We have planned a production of 500 billion cubic meters, however, it will probably be lower, Ananenkov said. –We expect it to amount to 450-490 billion cubic meters, he added, Reuters reports. The company expects production again to pick pace in 2010. Then, production definitely will exceed 500 billion cubic meters, perhaps 520 billion, Ananenkov said. The negative results come amid the company’s ambitious plans to boost production. According to previous company plans, production is to be boosted towards 560 billion cubic meters in 2010 and then further towards 590 billion cubic meters in 2020. In 2008 the Gazprom produced 549,7 billion cubic meters of gas