MOSCOW, January 25. /TASS/. Pipeline gas exports from Russia in 2024 will increase by 11% to 108 bln cubic meters, and LNG - by 14% to 38 mln tons, Russian Deputy Prime Minister Alexander Novak said in an article for the Energy Policy magazine.

"This year, the reorientation of export flows and Russia's share growth in the global gas market will continue. According to our estimations, pipeline gas exports will rise by 11% year-on-year in 2024 to 108 bln cubic meters, as the gas pipeline's design capacity Power of Siberia is gradually achieved, and LNG exports will increase by 14% to 38 mln tons," he said.

According to Novak, Russia cut gas output by 5.5% in 2023 to 636.7 mln cubic meters, while Russian pipeline gas exports totaled 91.4 bln cubic meters. At the same time, LNG shipments were around 43.6 bln cubic meters.

"New LNG clusters are under development. The Arctic LNG 2 project is being implemented. A complex for processing ethane-containing gas and manufacturing LNG in the Ust-Luga area is in the works," he added.