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Russia Gas Exports to Rise to 108bcm in 2024: Novak

NATURAL GAS

Russian natural gas exports are expected to increase to 108bcm in 2024 driven by planned growth in the Power of Siberia pipeline flows to China according to Deputy PM Alexander Novak.

  • The Power of Siberia pipeline is set reach an annual export capacity of 38bcm in 2025 from 22.7bcm last year.
  • LNG exports are also expected to rise 14% y/y in 2024 to 38m tons.
  • Russia exported 91.4bcm of pipeline gas in 2023 while gas production fell 5.5% y/y to 636.7bcm in the year.

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