Lukoil slightly increases sales volume of gas in 2023

MOSCOW. April 4 (Interfax) - Lukoil Group increased gas sales (natural, APG and dry stripped) 0.5% in 2023 to 25.9 bcm, the company's annual report said.

Russia accounted for 38%, or 9.9 bcm (a decrease of 3.8%), including 8.1 bcm delivered to Gazprom (-3.7%).

Gas sales abroad increased 3.3% to 15.9 bcm. The share of foreign sales in total gas sales volumes increased 2 percentage points versus 2022 to 62%.

As reported, Lukoil gas production reached 35.2 bcm in 2023, which is 1.5% higher than the previous year. In Russia, the company produced 18.1 bcm, which is 2.4% more than in 2022 due to the acquisition of production assets in Western Siberia. Production from international projects increased 0.6% to 17 bcm due to an increase in the company's share in the Shah Deniz project in Azerbaijan in 2022, as well as the effect of production sharing agreements in conditions of decreasing gas prices.