Gas was left in the ground

Sergey Kondratiev, Principal Director on Economic Studies of the Institute for Energy and Finance, commented to the Kommersant newspaper about gas production in Russia in March 2023.

Sergei Kondratyev notes that the market is currently in an unusual situation — with a sharp decline in pipeline exports and weak demand in the domestic market, natural gas production by independent producers continues to grow. In general, according to him, in 2023, Rosneft's gas production may exceed 85 billion cubic meters, increasing by 11 billion cubic meters year-on-year, NOVATEK will slightly increase production - up to 83-84 billion cubic meters.

Gas production in Russia in 2023, according to his expectations, will amount to 630 billion cubic meters against 673.8 billion cubic meters in 2022, Gazprom may reduce production to 385-390 billion cubic meters from 412.6 billion cubic meters in 2022.