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Russia’s Natgas Output at 14 Year Low in 2023: IEA

NATURAL GAS

Russia’s natural gas production for 2023 is expected to be the lowest annual output in since 2009, the IEA said in its Medium-Term gas report.

  • The report did not give a figure for Russian natural gas output, but according to a chart in the report, it is expected to be below 630 bcm.
  • Annual output from Russia is expected to rise 9% by 2026, although will still be 11% below the record set in 2021.
  • Russia’s gas exports to Europe are a key uncertainty in the forecast. After 2025, one TurkStream pipeline may be the only remaining route for Russian gas to Europe.

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