OREANDA-NEWS  Gas production in Russia accelerated the decline. According to Kommersant, in May, gas production fell by 11.4%, to 50.2 billion cubic meters, and since the beginning of the year, production has decreased by 10.4%, to 285.2 billion cubic meters. Gazprom's production is falling the most: in May, the indicator immediately decreased by 24.4%, to about 28.8 billion cubic meters. According to analysts, this may be due not only to a decline in exports, but also to a drop in domestic demand. In the future, the dynamics of the decline in Gazprom's production should slow down, as the effect of a high base will go away.

The volume of gas production in Russia in January—May 2023 decreased by about 10.4% year-on-year, to 285.2 billion cubic meters. In May, Russia produced 50.2 billion cubic meters of gas, which is about 11.4% less than a year earlier, sources familiar with statistics told Kommersant. May is the last month when the dynamics of gas production is noticeably affected by the high base of 2022, since last year in May Gazprom's exports began to decline sharply against the background of the transfer of gas payments in rubles.

It was Gazprom, according to Kommersant, that in May production fell the fastest — by 24.4% at once, to 28.8 billion cubic meters. In January—May, the company's production amounted to 179.75 billion cubic meters, a decrease of 19.3%. The reduction in production by the monopoly reflects a decline in exports to Europe. Russian pipeline supplies to Europe are currently limited to pumping through Ukraine and the Turkish Stream. Gazprom told Kommersant that it did not disclose production data.

Gazprom Neft reduced production by 14.5% in May, to 2.5 billion cubic meters, for five months production amounted to 11.9 billion cubic meters (a decrease of 17.8% year-on-year).