Gazprom 2024 gas output up by 61 bcm from record low in 2023
Gas exports to China up to 31 bcm in 2024, more than planned

MOSCOW, Dec 26 Reuters Alexei Miller, the head of Russia39;s Gazprom, said on Thursday the group39;s natural gas production is set to rise this year by 61 billion cubic metres bcm to around 416 bcm.

The increase is from an alltime low production in lossmaking 2023, when output plummeted by 13 amid a fall in gas exports to Europe, once Gazprom39;s primary source of revenue, as relations with the West worsened over the conflict in Ukraine.

Gas exports to China are set to rise to 31 bcm this year, Miller said, up from the planned 30 bcm.

The company has been in talks with China over a significant increase in gas sales, including via the Power of Siberia 2 pipeline. However, negotiations have not borne fruit due to a number of issues, mainly prices.

Gazprom has instead turned to the lowcost domestic market, as well as neighbouring exSoviet countries, such as Kazakhstan, Uzbekistan and Kyrgyzstan.

The company said on Thursday that gas supplies to domestic consumers have reached a record high of 390 bcm in 2024.

Reporting by Vladimir Soldatkin and Oksana Kobzeva, Editing by Louise Heavens

Source Reuters