15 Mar 2023 12:39

Russian Energy Ministry expects decrease in oil and gas production in 2023

MOSCOW. March 15 (Interfax) - The Russian Energy Ministry is forecasting a decrease in oil and gas production in the country in 2023.

"For 2023, we expect that the level of oil produced will be slightly lower, which is partly due to the voluntary reduction in oil production. The level of gas production will continue to decline both due to the refusal of the European Market to take it, and the timing for the reorientation of energy flows to the East," Energy Minister Nikolai Shulginov said, speaking on Wednesday in the State Duma.

According to Shulginov, gas production in Russia in 2023 will continue to decrease due to the exit of the European market and the time needed for the reorientation of energy flows.

"For 2023 ... the level of gas production will continue to decline both due to the refusal of the European market to take it and the reorientation of energy flows," he said.

He recalled that in 2022, gas production decreased, including after the sabotage of the Nord Stream and Nord Stream 2 gas pipelines.

In 2021, Russian gas production reached 763 billion cubic meters. In 2022, it was 674 billion cubic meters. For 2023, the International Energy Agency forecasts Russian gas production of 620 billion cubic meters.

Shulginov also said that Russia should retain the volume of coal production in 2023 at the level reached in 2022.

"As for coal, we forecast retaining the current level, which in 2022 revisited the high pre-pandemic rate of 2019," Shulginov said.