Russian gas producer OAO Gazprom (GAZP.RS) plans to produce between 450 billion and 490 billion cubic meters of natural gas this year, the Interfax news agency said Monday, citing the company's Deputy Chief Executive Alexander Ananenkov.
The company had earlier set a production target for this year of 500 billion cubic meters.
Gazprom, the world's largest producer of natural gas, plans to produce around 520 billion cubic meters in 2010, Ananenkov said.
The company has been forced to lower output this year, as demand declined in Europe and at home amid an economic downturn.