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Russia’s natural gas export to decline to 184 bln cubic meters in 2016 — outlook

Meanwhile, natural gas production is expected to rise on account of higher domestic gas consumption

© ITAR-TASS/Anatoly Gorokrik

MOSCOW, May 6. /TASS/. Russia’s natural gas export to non-CIS countries will decline 0.8% year-on-year to 184 bln cubic meters in 2016 in view of intention of the EU countries to lower dependence on the Russian gas, the Ministry of Economic Development said on Friday in Russia’s socioeconomic development outlook.

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"Russian gas deliveries to Ukraine are estimated to be not higher than 11 bln cubic meters in 2016 in conditions of current relations with Ukraine," the document says.

According to the outlook, natural gas export will be 189.9 bln cubic meters in 2017, 191.4 bln cubic meters in 2018, and will remain at the same level in 2019. The conservative case provides for natural gas export of 184 bln cubic meters in 2016 , 188.7 bln cubic meters in 2017, and 190 bln cubic meters in 2018.

The average contracted gas prices for non-CIS countries will be $159.2 per 1,000 cubic meters in 2016, $167.2 per 1,000 cubic meters in 2017, $159.1 per 1,000 cubic meters in 2018, and $174.8 per 1,000 cubic meters in 2019, the document says.

Production expected at 641 bln cubic meters in 2016

According to the report, natural gas production is expected to be 641 bln cubic meters in 2016 against 633.4 bln cubic meters last year on account of higher domestic gas consumption.

"Natural gas production will be managed to climb to 676 bln cubic meters by 2019," the document says.

Natural gas production may grow to 654 bln cubic meters in 2017 and to 667 bln cubic meters in 2017. The conservative case provides for gas production of 640 bln cubic meters in 2016, 645 bln cubic meters in 2017, 653 bln cubic meters in 2018, and 666 bln cubic meters in 2019.

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