Page 119 - RusRPTOct22

9.0 Industry & Sectors 9.1 Sector news
9.1.1a Oil & gas sector results
Russia, one of the world’s biggest oil producers, pumped almost 11mn b/d of crude and products in August, only marginally down from before it invaded Ukraine in February.IEAexpects that to fall to 10.2mn b/d in December and to 9.5mn b/d by February 2023.
Gazprom reduced gas output since the beginning of the year by 15.9% y/y to 300.8bn cubic metres. Gas exports to non-CIS countries for 8.5 months fell by 38.8% or by 53.7bn cubic metres to 84.8bn cubic metres, the company reported.
At the same time, Gazprom average daily exports in September fell by 22% compared to August to 173mn cubic metres.
Demand for Gazprom's gas from the gas transportation system in the domestic market of Russia decreased by 3.3% or by 5.4bn cubic metres over 8.5 months, the company noted.
Europe needs to pump another 14bn cubic metres of gas into their underground storage facilities in order to reach the level of the beginning of the 2019-2020 withdrawal season, Gazprom said, citing Gas Infrastructure Europe data. As of September 13, gas reserves in European UGS facilities were replenished by 58.4bn cubic metres.
Gazprom hit a new all-time high for the daily volume of gas supplies to China via the Power of Siberia gas pipeline on September 10, the holding said in a statement on Thursday.
"Gas exports to China via the Power of Siberia pipeline keep growing within the framework of the long-term bilateral contract between Gazprom and CNPC. It should be noted that supplies in September regularly exceed the daily contractual volumes. On September 10, a new all-time high was hit for the daily volume of exports," the statement said.
Earlier, Gazprom reported growth of exports of Russian gas to China via the Power of Siberia pipeline within the framework of the long-term bilateral contract between Gazprom and CNPC.
119 RUSSIA Country Report October 2022 www.intellinews.com