The Russian Gazprom has never had such a low production rate in its entire history.
Russia’s gas production has collapsed to levels in the 70s, according to a report from state energy company Gazprom, which said gas production in the first half of 2023 amounted to 179.45 billion cubic meters. An American magazine writes about this Newsweek.
This means a collapse in gas supplies to the domestic and foreign markets by 26.5 percent compared to the same period last year. This drastic drop occurred after the Russian army invaded Ukraine in 2022, which led to the introduction of international sanctions and a decrease in Europe’s dependence on Russian oil and gas.
Analysts believe Russia’s plans to use energy as leverage have failed as Europe has found alternative sources such as American LNG and gas supplied by Norway and Qatar. Forecasts indicate a constant decline in Russian gas exports to Europe, which could fall to 15 billion cubic meters by 2026. meters. Before the war, Russia pumped 174.9 billion cubic meters to Europe. m of gas. 78% of supplies from Russia went to Western European countries.
To compensate for losses, Russia is seeking to strengthen trade ties with China, but Beijing previously refused to build a second branch of the Power of Siberia gas pipeline.
Independent Russian-language news outlet Agency reported that Gazprom had “never had such a low level of production in its entire history” and that “the last time a similar figure was observed in the Soviet Union was in 1978,” when it produced 372.1 billion cubic meters. . m of gas.
Previously, we wrote that Gazprom’s business is deteriorating, and the Russians are facing the biggest thing in 11 years price increase on gas.
Author:
Mark Voroshilov
2023-10-01 11:10:53
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