Russia Expects Production to Rise to 2020
Russia plans to continue increasing gas production out to 2020.
It plans to produce 685bn m3/yr in 2020, representing about 7% more than its 2016 production.
According to a draft budget for next year, as well as planning to 2019-2020, submitted by the Ministry of Economic Development to the State Duma, Russia’s gas production would rise 5.1% year-on-year to 673.4bn m3 in 2017, of which 463.4bn m3 (up 0.8%) is expected to be consumed domestically.
Some 209.6bn m3 piped gas and 9.9mn mt LNG are projected to be exported in 2017, the report added, of which EU imports in 2017 are expected be 174.1bn m3.
For 2020, Russia expects 685bn m3 gas production, but domestic demand is expected to decline slightly to 460.5bn m3. LNG exports are projected to double to 20.8mn mt/yr in 2020, while piped gas exports in that year are forecast to reach 206.4bn m3/yr.
The government has controlling interests in both Russian gas giant Gazprom, oil giant Rosneft and other key enterprises. The draft budget was submitted to the Duma on September 28.
Azerbaijan Desk