Russian natural gas output, exports to shrink in 2022: Novak

28/12/2022 Argaam

Russian natural gas output, exports to shrink in 2022: Novak

Russian Deputy Prime Minister Alexander Novak

Russia will reduce natural gas production and exports in 2022 due to the shutdown of export infrastructure, TASS news agency cited Russian Deputy Prime Minister Alexander Novak as saying on Dec. 26.

 

"Gas production by the end of the year will be 12% less than in 2021, and exports will drop by about a quarter. This is primarily due to the shutdown of export infrastructure," Novak explained.

 

Meanwhile, LNG production will make an 8.7% leap this year, he added.

 

Moscow, according to the official, managed to keep oil output from plummeting despite Western sanctions.

 

"According to preliminary data from the Energy Ministry, this year we will increase oil production by about 2% compared to 2021 to 535 million tons despite pressure on the industry. Exports will increase by 7.5% to 242 million tons," Novak confirmed.

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