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Russia’s Gas Output to Rebound in 2024: Kpler

NATURAL GAS

Russia’s gas production volumes hit a low point in 2023, but are likely to see an uptick in 2024, according to Viktor Katona, lead crude analyst at Kpler, cited by Bloomberg.

  • Higher output from independent producers, rising exports to China, and the launch of the Arctic 2 LNG project are expected to boost gas volumes.
  • Kpler forecasts Gazprom’s exports to China via Power of Siberia will grow by 7-9 Bcm in 2024.
  • Supplies via Power of Siberia hit 22.7 Bcm in 2023.
  • Kpler also expect Arctic 2 LNG exports to begin in March with production coming from trains 1 and 2. The third train is likely to be postponed.
  • Russia expects its pipeline gas exports to reach 108 Bcm this year. This compares to 91.4 Bcm in 2023, but significantly below the 185.1 Bcm exported in 2021.
Energy BulletsCommodities
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