Russia Gas Output Down 13% in First Half After EU Exports Cut
- Gazprom accounts for the bulk of the drop in nation’s output
- Novatek slightly reduced output, while Rosneft increased it
Pipes labelled 'gas' at a gas treatment unit in Sakha Republic, Russia.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Russia’s natural gas production in the first half was almost 13% lower than a year earlier following the Kremlin’s decision to halt pipeline exports to many countries in Europe, its biggest market.
Russian producers pumped 319.3 billion cubic meters of gas in the first half of the year, according to industry data seen by Bloomberg. The country started to significantly reduce gas output last year after halting most pipeline exports to Europe amid the Kremlin’s standoff with the west over the invasion of Ukraine.