Russia’s Gazprom Expects Lowest Gas Production Ever in 2014

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Russia’s top natural gas producer Gazprom said on Wednesday it expected to produce 444.4 billion cubic metres (bcm) of natural gas this year, an all-time low, down from 487.4 bcm last year.

A company spokesman also said Gazprom had just received a $1.65 billion payment from Ukraine to cover the country’s gas debts.

He also said Ukraine’s state-owned energy firm Naftogaz had used up only 300 million cubic metres of Russian gas so far in December out of 1 bcm which Ukraine has already paid for. The unused volumes will be shipped in January, he added. 

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