Russia's Gas Production Drops 5.5 Percent in 2023
"The level of gas production amounted to 636.7 billion cubic meters by the end of the year of 2023, which is 5.5% lower than the previous year, while offshore gas production increased by 10.9% by the end of 2023, to 34.5 billion cubic meters," Novak wrote in an article published on local media.
He noted that Russia's pipeline gas exports amounted to 91.4 billion cubic meters in 2023, and the country's liquified natural gas (LNG) exports totaled 43.6 billion cubic meters by the end of 2023.
The official said that according to forecasts, Russia's pipeline gas exports will increase 11 percent year on year to 108 billion cubic meters in 2024, while LNG exports are set to increase 14 percent year on year to 31 million tons.
The deputy prime minister said that Russia is continuing to redirect its gas exports to new markets, adding that in this context, the country will focus on strengthening cooperation with countries in the Asia-Pacific region.
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