OREANDA-NEWS  The volume of gas production in Russia in annual terms increased by 2.7 percent in September. During the first month of autumn, a total of 47.6 billion cubic meters of fuel were produced in the country, the Vedomosti newspaper reports, citing data from analysts of the Federal State Statistics Service (Rosstat).

Thus, gas production in Russia is growing for the second month in a row after a prolonged decline. The increase is ensured by the supply of the "Power of Siberia" to China and stable fuel consumption in the domestic market. At the same time, according to the results of the first nine months of 2023, the indicator decreased by nine percent compared to the same period last year. In January-September, the volume of gas production in the country was at the level of 458.8 billion cubic meters, experts said. The average daily production level in September reached 1.59 billion cubic meters against 1.54 billion in August. Analysts attributed a symbolic decrease of 0.2 percent to the level of the last month of summer to the fact that there are fewer calendar days in August. If it were not for this factor, the total monthly production figures would be at the same level, experts concluded.

Earlier, analysts of the International Energy Agency (IEA) predicted that Russia would lose half of its share in the gas market by 2030. By this time, according to experts' forecasts, the indicator will be halved to 15 percent, although in 2021 it was 30 percent. At the same time, the country's gas revenues will fall even more on the horizon of 2030. In seven years, Russia will receive only $40 billion from gas sales (in 2021 — about $ 100 billion). The main reason, analysts believe, will be difficulties in finding new markets.