Russian state-controlled Gazprom’s production will fall to a record low of 414bn m3 this year, the economic development ministry says. Output was down by 13pc on the year at 199bn m3 in January-June, leaving the firm with a struggle to meet the 2015 target of 450bn m3 that it announced in May — a figure that was already 36bn m3 down on its initial forecast (WPA, 22 May, p9).
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