OREANDA-NEWS  In the first quarter of 2024, gas production in Russia increased to 196.9 billion cubic meters. This is reported by Kommersant with reference to sources familiar with the statistics of the Ministry of Energy.

Russian companies produced 9.4 percent more gas in annual terms from January to March. So, in March, production amounted to 65.4 billion cubic meters — plus 7.9 percent year-on-year. Gazprom provided the main growth — plus 13 percent and 132 billion cubic meters for the quarter. Large independent producers have maintained production at about the same level as last year.

Independent expert Alexander Sobko explains the trend by increasing Gazprom's exports to the countries of the European Union. A year earlier, gas pumping in the EU fell to a historic low of 45 billion cubic meters, and now suppliers are increasing the volume of pumping through the Power of Siberia. Gazprom is also seeking to conclude an agreement on supplies via the Power of Siberia-2 gas pipeline. In the first quarter of 2024, Rosneft increased gas production by 1.5 percent, to 20 billion cubic meters. A year earlier, the company demonstrated explosive production growth due to the launch of the Rospan and Kharampurneftegaz projects - by the end of 2023, the figure increased by 23.7 percent, to 66 billion cubic meters. During the same period, NOVATEK reduced gas production by 2.6 percent, to 20.8 billion cubic meters — the company was unable to increase volumes due to sanctions preventing the launch of the Arctic LNG-2 project at the Morning field.

According to the results of three months, LUKOIL also maintained production — 4.6 billion cubic meters. Gazprom Neft, controlled by Gazprom, produced 7.7 billion cubic meters of gas (plus 8.4 percent year-on-year). Surgutneftegaz reduced production in the first quarter by 11.3 percent at once, to 1.63 billion cubic meters.

In recent months, the European Union has been discussing the introduction of new sanctions against LNG projects from Russia, including a ban on the re-export of Russian liquefied natural gas to third countries through ports in Europe. According to Kremlin spokesman Dmitry Peskov, Russia intends to look for ways to overcome potential obstacles.