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Gazprom has lowered its 2009 gas export forecast from 170 billion
Gazprom has lowered its 2009 gas export forecast from 170 billion to 140 billion cubic meters with an average price of $260 per 1,000 cubic meters, the company's deputy chairman said on Tuesday.

"We forecast that we will deliver 140 billion cubic meters of gas. The price forecast [for 2009] is in the region of $260 per 1,000 cubic meters," Alexander Medvedev told journalists.

At the start of February, Gazprom predicted that exports would drop from 179 billion cubic meters to 170 billion. The Russian energy giant also said it expected export revenues to drop by about $18.8-$25.6 billion year-on-year to $42-47 billion.

In 2008, Gazprom sold 179 billion cu m of gas with an average price of $409 per 1,000 cu m and earned a total of $66.4 billion in export revenues, according to the Federal Customs Service.

Gazprom also said that natural gas output in 2009 could drop to 510 billion cubic meters from 550 billion cubic meters due to reduced gas consumption by Ukraine and European countries in January.


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