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Gazprom Gas Output Falls 25% yoy in 1H 2023

NATURAL GAS

Gazprom’s Russian units produced 179.45bcm of natural gas in the first half of this year, down nearly 25% compared to the first half of 2022 according to company disclosure documents.

  • Gazprom supplied a total of 166bcm of gas to domestic and foreign clients compared 225.7bcm in 1H 2022. No breakdown of supplies by countries or regions was provided.
  • Gazprom regularly supplied above-contract volumes to China via the Power of Siberia pipeline in 1H
  • Domestic gas demand in 1H was impacted by “somewhat milder temperatures both in the winter as well as the spring and summer seasons” compared to 2022.

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