Russia Increased Gas Production in the First Quarter by 10.6%
The production of liquefied natural gas in January – March 2024 amounted to 9 million tons, according to Rosstat data.
In the first quarter of 2024, Russia increased natural gas production by 10.6% compared to the same period of the previous year, to 164 billion cubic meters. This follows from Rosstat data.
In particular, gas production in March amounted to 54 billion cubic meters, which is 0.6% lower than in February and 8.4% more than in March last year.
Liquefied natural gas (LNG) production in January – March 2024 amounted to 9 million tons, which is 5.5% more than in the same period in 2023. In March, LNG production reached 3.1 million tons, which is 6.9% more than in March 2023 and 10.7% more than in February 2024.
Associated petroleum gas production in January – March increased by 3.3% – to 27.2 billion cubic meters. Thus, total gas production in Russia (natural and associated petroleum) in the first quarter of 2024 increased by 9% – to 191.2 billion cubic meters.
Gas production forecasts in the Russian Federation
Earlier, the head of the Ministry of Energy of the Russian Federation, Nikolai Shulginov, announced a preliminary forecast according to which gas production in Russia in 2024 could amount to about 667 billion cubic meters. Gas production in the Russian Federation in 2023 decreased by 5.5% compared to the previous year, to 636.9 billion cubic meters.
According to the basic forecast of the Ministry of Economic Development, gas production in Russia in 2024 will increase to 666.7 billion cubic meters, in 2025 – up to 695.4 billion cubic meters, in 2026 – up to 707.5 billion cubic meters.
The International Energy Agency predicts that gas production in Russia will increase by 5% in 2024, to 670 billion cubic meters.
