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Gazprom Group boosts gas production by 16% YOY in H1 2024 — report

Gazprom Group sold 186.7 bln cubic meters in domestic and international markets during the first six months of this year

MOSCOW, September 30. /TASS/. Gazprom Group ramped up natural gas production to 208.14 bln cubic meters in the first half of 2024, according to the issuer’s report for six months.

The indicator totaled 179.45 bln cubic meters a year earlier. "Recognition of control in respect of Sakhalin Energy by Gazprom Group in March 2024, which was accounted as an investment into an associate before receiving control, had significant influence on dynamics of volumes of natural and associated gas production by Gazprom Group and associates and joint ventures in the share falling on Gazprom Group over six months of 2024, compared to the like period of 2023 in the territory of the Russian Federation," the company said.

Gazprom Group sold 186.7 bln cubic meters in domestic and international markets during the first six months of this year (166 bln cubic meters in the like period of the last year). Growth of gas supplies to non-CIS countries was largely influenced by the planned increase of gas exports to China and consolidation of Sakhalin Energy, according to the document. In particular, gas deliveries to China gained 43% year on year in the first half of 2024.

Gas deliveries to the corporate gas transport system in Russia edged up by 9.2% from 284.4 bln cubic meters during first six months of 2023 to 310.6 bln cubic meters in the like period of this year. The indicator increase was driven by growing gas supplies to domestic and overseas consumers.

Gazprom also boosted natural and associated gas processing by 13.62% to 28.2 bln cubic meters on account of starting new facilities at the Amur Gas Processing Plant.

Gazprom injected 19.8 bln cubic meters of gas to underground gas storages (18.7 bln cubic meters a year earlier). The offtake stood at 26.4 bln cubic meters (21.6 bln cubic meters in the like period of 2023). The company will create the operational gas reserve of 73.03 bln cubic meters by the offtake season of 2024/2025.

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