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5 Dec, 2022 12:33

Russian gas production slowing – reports

Energy major Gazprom reported lower output amid falling EU consumption
Russian gas production slowing – reports

Natural gas production in Russia declined by 11.6% in November compared to the same period last year and totaled 612.9 billion cubic meters (bcm), Vedomosti newspaper reported on Sunday, citing sources in the Energy Ministry.

The decline announced earlier by state-owned energy giant Gazprom has had a negative impact on the overall output dynamics. The company saw gas extraction plunging by 19.4% in eleven months year-on-year to 376.9 bcm, Gazprom reported on December 1, attributing the decline to dwindling consumption in the EU.

Pipeline deliveries, to Europe, Türkiye, and China dropped by 44.5% to just 95.2 bcm in the reported period compared to last year. Gas demand on the domestic market has also weakened by 5.7%, the outlet wrote, citing Gazprom.

Meanwhile, despite the overall decline, other Russian energy companies Rosneft and Novatek have reportedly boosted their natural gas production.

For more stories on economy & finance visit RT's business section

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