Russian President Putin Says Gazprom's Production Is Not Falling

© Yuri Smityuk/TASS  

TASS: Gazprom’s production not falling, but rising, Putin says  

The Russian leader pointed out that the replacement of gas with fuel oil is out of the question in a region with high tourist potential 

PETROPAVLOVSK-KAMCHATSKY, September 5. /TASS/. Gazprom’s production is not falling, but it is even rising, Russian President Vladimir Putin said on Monday. 

"Gazprom’s production is not falling, or you will scare everyone now, but [it is] only rising," he said at a meeting devoted to Kamchatka’s social and economic development after Deputy Prime Minister Alexander Novak said that as a program for Kamchatka’s gasification and field development was adopted 15 years ago Novatek started production, but the resource base was not confirmed, which caused a decline in production over the past years. The replacement of gas with fuel oil is out of the question in a region with high tourist potential, he added.  

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WNU Editor: Some differ with Putin's Gazprom assessment .... Russian state-energy giant Gazprom saw its natural-gas production in July slump to its lowest level since 2008 (Insider). 

As to what is my take. 

Gazprom's export of natural gas has declined this summer because of pipeline and turbine issues, and with Nord Stream 1 now shut down indefinitely, its production will fall even more. But I think this is temporary. There is now a push to export natural gas to energy hungry countries in Asia .... Gazprom discussing accelerated redirection of gas supplies eastward — Energy Minister (TASS). Ditto with oil production/exports .... Russia able to adapt to EU oil embargo — Energy Minister (TASS).