Russia reduced gas production in 11 months by 13.3% yoy

According to the results of 11 months, gas production in the Russian Federation decreased by 13.3% compared to January-November 2021. This figure amounted to 522 billion cubic meters. m, follows from the data Rosstat. LNG production increased by 9.5% to 29.7 million tons, oil production – by 2.2% to 488 million tons.

In November, gas production decreased by 16.5% compared to the same period last year, the figure amounted to 48.1 billion cubic meters. m. However, gas produced by 5.2% more than in October this year.

Despite the growth in LNG production over the 11 months of 2022, in November it decreased by 0.7% to 2.8 mmt. The level of oil produced in November remained the same as in November 2021 — 44.6 mmt.

Earlier today, on December 28, the head of Gazprom, Alexei Miller, announced that the company’s gas production will amount to 412.6 billion cubic meters. m at the end of the year. At the same time, Gazprom previously reported. that from January to December, gas production fell by 19.6% in annual terms.

On December 23, Deputy Prime Minister Alexander Novak announced that gas production in 2022 would decrease by 18-20%. However, on December 26, Mr. Novak improved forecasts: gas production will be 12% less than last year, while LNG production will increase by 8.7%. At Gazprom today, December 28, appreciated the level of gas production for 2022 at 412.6 billion cubic meters. m., of which 100.9 billion cubic meters. m are exported to foreign countries. Alexander Novak reported that after the measures taken by Russia in response to the introduction of the ceiling on oil prices, the Russian Federation may reduce oil production by 5-7%, 500-700 thousand barrels per day.

How Russia will trade fuel in the conditions of the price ceiling – in the material “Kommersant” “The ceiling is not a decree for them”.

Polina Sobakina