Gazprom sees gas output at 530 bcm in 2010

MOSCOW Nov 16 (Reuters) - Gazprom (GAZP.MM), the world's largest gas producer, plans to extract 530 billion cubic metres (bcm) of gas in 2010 as a gradual recovery in demand allows the Russian company to produce more than the 450-490 bcm expected this year.

However, Gazprom's forecast, released with its third-quarter results to Russian Accounting Standards on Monday, is a cut from its previous official forecast of 565-570 bcm and falls short of last year's output of about 550 bcm.

But it is higher than a forecast made by Deputy Chief Executive Alexander Ananenkov last month that Gazprom would produce 450-490 bcm of gas this year and around 520 bcm in 2010. [ID:nLC251929]

Gazprom, Russia's monopoly gas exporter, provides about one-fifth of global gas output and supplies Europe with a quarter of its gas needs.

In its Russian results statement, Gazprom said the decline in 2010 production from its previous official forecast was due to "a fall in gas demand on the domestic and international gas markets" which resulted from the global financial crisis. (Reporting by Vladimir Soldatkin; Editing by Greg Mahlich)