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Russia’s gas output down by 9.6% yoy in January-October, says statistics service

Production of liquified natural gas in January-October 2023 amounted to 26.6 million tons, which is 4% less than for the same period in 2022

MOSCOW, November 29. /TASS/. Russia’s natural gas production decreased by 9.6% year-on-year in January-October 2023 to 430 billion cubic meters, the Federal statistics service reported.

In particular, gas production in October amounted to 49.2 billion cubic meters, which is 7.4% up year-on-year and 23.8% up month-on-month.

Production of liquified natural gas (LNG) in January-October 2023 amounted to 26.6 million tons, which is 4% less than for the same period in 2022.

In October, LNG production amounted to 3 million tons, which is 1.1% less than in October 2022 and 10.7% higher than in September 2023.

In January-October, associated petroleum gas production increased by 5.3%, to 88.1 billion cubic meters.

Total gas production in Russia (natural and associated petroleum) over the 10 months of 2023 decreased by approximately 7% - to 518.1 billion cubic meters.

Forecasts for gas production in Russia

According to the Energy Ministry, in 2022 reduced gas production by 11.7% - to 673.8 billion cubic meters. m, exports - by 30.7%, to 170.6 billion cubic meters. m. At the same time, the ministry expects a further decline in production in the country in 2023 due to the rejection of Russian gas by European consumers and the inability to immediately redirect flows.

Gas production in Russia in 2023 will decrease by 5% to 642 billion cubic meters, according to the forecast of socio-economic development of Russia for 2024 and for the planning period of 2025 and 2026, prepared by the Economic Development Ministry. At the same time, according to the baseline forecast, gas production will increase to 666.7 billion cubic meters in 2024, up to 695.4 billion cubic meters in 2025, up to 707.5 billion cubic meters in 2026.

The International Energy Agency (IEA) predicted a decrease in gas production in Russia this year to 620 billion cubic meters, which is the lowest volume since 2009.

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