NGE Notes: Gazprom forecasts lower output at Bovanenkovo gas field

Lower gas demand has lead Gazprom to cut its forecast for gas output at its Bovanenkovo field in the Yamal Peninsula.

Vsevolod Cherepanov, head of Gazprom's production department,  said natural gas output forecast at Bovanenkovo would be reduced by almost one-third.

Cherepanov said that 2013 production would reach 29.5 billion cubic meters, not the 46 billion cubic meters initially forecast.

Increased competition from liquefied natural gas (LNG)  and cheap coal imports has impacted European demand from the giant field, which began in production in October 2012.