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Russian Gas Production in H1 Down 14.9% on the Year

NATURAL GAS

Russian natural gas production in H1 fell by 14.9% year-on-year to 34.6 billion cu m, according to TASS.

  • June production also fell 12.5% compared to May production levels.
  • LNG production in H1 amounted to 16m mt, down 4.5% compared to H1 2022.
  • The Russian Ministry of Energy expect overall gas production to continue decreasing, as European buyers increasingly move away from Russian imports.
  • Energy Minister Nikolay Shulginov said that Russia’s gas production is currently 8-10% below the forecast, while LNG production is expected to rise to 32 mln tons in 2023 from 30 mln tons in the previous year.
Energy BulletsCommodities
Energy BulletsCommodities

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