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Russian gas exports up 9.4% in 10M08, crude exports down 6.2%

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MOSCOW, November 24 (RIA Novosti) - Russian natural gas exports grew 9.4% year-on-year in January-October to 165.8 billion cubic meters, the Economics Ministry said on Monday.

Gas exports to other Commonwealth of Independent States (CIS) countries increased 0.8% to 30.7 billion cu m, while exports to countries outside the CIS grew 11.6% to 135.1 billion cu m, the ministry said.

Russia's gas production totaled 539.6 billion cu m in January-October, 1.4% more than in the same period last year, the ministry said.

State-controlled gas monopoly Gazprom produced 457.4 billion cubic meters in the reporting period, up 2.3% year-on-year. Oil-producing companies and independent gas producers produced 82.6 billion cubic meters of gas.

According to preliminary estimates, Russian consumers received 355.9 billion cubic meters of gas in the first ten months of 2008.

Russia's crude oil exports fell 6.2% in January-October to 202.7 million metric tons (1.49 billion barrels). The decline was due to lower output and increased supplies to domestic refiners, the ministry said.

Oil exports to CIS countries grew 2.1% compared with the same period last year to 31.6 million metric tons (232 million barrels). Increased supplies are due to Belarus and Ukraine. Exports to non-CIS countries fell 7.6% in the reporting period to 171.1 million metric tons (1.25 billion barrels), the ministry said.

Depleted and watered-out oil wells, delays in the commissioning of new deposits and reduced incentives for oil companies to boost crude production due to the heavy tax burden and lower oil price in September-October have been the main factors behind decreased production, the ministry said.

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