Russian giant Gazprom paints gloomy picture for 2009

摘要

Moscow-Russian gas giant Gazprom February 6 gave a gloomy outlook for its operations in 2009, predicting a 5% drop in natural gas exports to Europe and a cut in production and capital investments, which analysts say reflects a combination of a fall in energy prices, slowing demand and the national currency devaluation. Gazprom expects its gas exports to Europe this year to fall to 170 billion cubic meters from 179 Bcm in 2008, according to a Gazprom presentation to investors obtained by Platts. Exports to countries in the former Soviet Union-including Ukraine- are expected to fall from 88 Bcm in 2008 to 75 Bcm in 2009.