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Gas Forecasts Cut

The Economic Development Ministry cut forecasts for gas production and exports for this year and next year, and the outlook for fuel demand is uncertain, Deputy  Minister Andrei Klepach said Monday.

The forecast for total gas exports for this year was cut  6.8 percent to 180.2 billion cubic meters, and the output projection was reduced 3 percent to 656 bcm, he said.

For 2013, the forecasts for exports were revised down 4 percent to 196.4 bcm. Forecasted production fell 1.2 percent to 683 bcm.

Gazprom supplies about a quarter of Europe's gas needs. The company is expected to cut its deliveries to Europe from the 150 bcm it supplied last year because Europeans have increasingly been using cheaper alternatives such as liquefied natural gas.

(Reuters)

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