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Russia to boost gas production by 70% to 1.085 trillion cubic meters by 2050

The conservative scenario suggests that the current trends and existing policies in the Russian fuel and energy sectors, which do not imply serious investment in development, will persist

MOSCOW, September 26. /TASS/. Russia’s gas production may rise from 638 bln cubic meters to 1.085 trillion cubic meters in 2050, according to the country’s targeted energy strategy scenario obtained by TASS. The document is currently being negotiated with participants of the sector and at the level of agencies, with its approval expected by the end of this year.

In 2023, gas production amounted to 638 bln cubic meters, according to the document. Gas output is expected to grow to 951 bln cubic meters by 2036 and to 1.085 trillion cubic meters by 2050. Supplies to the domestic market are expected to rise from 495 bln cubic meters to 664 bln cubic meters, while export deliveries may increase from 143 bln cubic meters to 421 bln cubic meters. Supplies of pipeline gas will go up from 101 bln cubic meters to 176 bln cubic meters in 2050, while LNG deliveries will grow from 42 bln cubic meters to 245 bln cubic meters.

The draft energy strategy through 2050 includes two scenarios. The conservative scenario suggests that the current trends and existing policies in the Russian fuel and energy sectors, which do not imply serious investment in development, will persist. The target scenario stipulates a balanced development of sectors with least costs, as well as the implementation of the country’s export potential.

Gas production and export volumes in the conservative scenario do not differ much from those in the target scenario. Gas output in it is expected at 914 bln, while export - at 312 bln cubic meters in 2050 (156 bln cubic meters via pipelines, 156 bln cubic meters as LNG).

The seventh international forum Russian Energy Week (REW) is organized by the Roscongress Foundation with the support of the Russian Government, the Russian Energy Ministry and the Moscow Government. TASS is the forum’s information partner.

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