According to preliminary estimates, in 2007 a geological survey driven buildup of Gazprom Group natural gas reserves exceeded 585 bcm, 7 bcm up on the target.

The latest data show that natural gas production by Gazprom Group (excluding production by affiliated companies) accounted in 2007 for 548.5 bcm.

“Gazprom pursues a market driven approach to operations and efficiently responds to demand fluctuations both in Russia and abroad. For the third consecutive year a buildup of Gazprom natural gas reserves has outrun its production. We believe that this trend will continue in the future and Gazprom will secure sustainable and expanded replenishment of the mineral resource base,” pointed out Alexey Miller, Gazprom Management Committee Chairman.

Reference:

In 2005 Gazprom (excluding affiliated companies) added through prospecting 583.4 bcm of natural gas and produced 555 bcm. In 2006 these figures totaled 590.9 and 556 bcm respectively.