Output of Russia's Gazprom hits 463bcm in 2014

Sergei Kupriyanov, spokesman of Russia's gas giant Gazprom, on Wednesday estimated the company's output in 2014 at 463.4 billion cubic meters (bcm).
The figure shows a sharp decline when compared to the 487.4 bcm output of last year, Tass news agency cited Kupriyanov as saying at a press conference here.
The spokesman declined to comment on the projected production for 2015, saying the company will produce the needed quantities.
The decline of the output of the world's largest natural gas extractor apparently has to do with the sanctions slapped by the Western countries on Russia over the Ukraine crisis.
On the debt arrears relating to natural gas supplies to Ukraine, the spokesman said Ukraine's state-owned Naftogaz repaid USD 1.65 billion to the Gazprom.
He added that the companied supplied Ukraine with 300 mcm before halting the supplies to Kiev in last June when Russia set the condition that Ukraine should pay in advance.