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Investments in Russian fuel and energy sector to be $80.4 bln in 2023 — Energy Ministry

It is also noted that Russia will continue ranking second by oil and gas production volume

KEMEROVO, November 22. /TASS/. The Russian Energy Ministry expects that investments in the national fuel and energy sector will stay flat in annual terms and amount to 7.1 trillion rubles ($80.4 bln) in 2023, according to the presentation of First Deputy Minister Pavel Sorokin.

The share of the fuel and energy sector as part of the national GDP will drop by 2 percentage points (pp) to 16% and by 7 pp to 51% in exports in the next year, according to the ministry. The sector will bring 8.6 trillion rubles ($97.4 bln) to the Russian budget, compared to 11.6 trillion rubles ($131.4 bln) in 2022.

Russia will continue ranking second by oil and gas production volume, third by coal exports, and fourth by liquefied natural gas supplies in 2023.