MOSCOW, November 27. /TASS/. Russia increased natural gas production in January-October 2024 by 9.4% over the same period last year to 470 bln cubic meters (bcm), according to data from the Russian State Statistics Service (Rosstat).

In October, gas production reached 50.3 bcm, which is 18.1% more than in September and 2.2% more than in October 2023.

LNG production in January-October 2024 amounted to 28.4 mln tons, which is 6.7% more than a year earlier. In October, LNG production reached 3.1 mln tons (+8.4% compared to October 2023 and +3.6% compared to September 2024).

Associated gas production in January-October increased by 2.4% to 88.6 bcm.

Thus, total gas production in Russia (natural gas and associated oil) for 10 months of 2024 increased by 7.9% to 558.6 bcm.

Forecasts of Russia’s gas production

Earlier, the Russian Ministry of Energy announced a preliminary forecast, according to which gas production in the country in 2024 could reach around 667 bcm. Deputy Prime Minister Alexander Novak noted that growth by the end of 2024 could reach 10%. Gas production in Russia in 2023 amounted to 636.9 bcm. m (-5.5%).

According to the baseline forecast of the Ministry of Economic Development, gas production in Russia will grow to 668.2 bcm in 2024 to 695.4 bcm in 2025 and to 709.1 bcm in 2026.

The International Energy Agency (IEA) expects gas production in Russia to grow by 6% to 675 bcm in 2024.