Russia's Gas Production Collapses to Late-Stage USSR Levels

Newsweek ^ | Sept. 30, 2023 | Brendan Cole

[canuck_conservative]

The country's state energy giant Gazprom said in its latest report that gas production in the first half of 2023 was 179.45 billion cubic meters (bcm). Gazprom added that this represents a year-on-year decrease of nearly a quarter (24.7 percent), and a 26.5 percent drop in gas supplies to the domestic and foreign markets...

The invasion also pushed Europe to cut purchases of Russian oil and gas drastically. The continent overcame an energy crunch last winter, in part by reducing energy consumption and finding other suppliers, such as sellers of seaborne liquefied natural gas (LNG)...

Independent Russian-language news outlet Agentstvo reported that Gazprom "has never had such a low production rate in its entire history" and that "the last time there was similar figure was in the Soviet Union in 1978," a year when 372.1 bcm were produced...

O'Donnell said that the increase in supplies of US LNG helped by Norway and Qatar meant that "the EU didn't have to cave in when Putin cut the gas flows."

"So, that business is now lost to Putin," O'Donnell said, although the EU will face higher prices of new global LNG coming online.

"For Moscow, without new, hugely expensive pipelines all the way to China, this huge Russian gas resource will remain a stranded asset," added O'Donnell, a global fellow with the Wilson Center think tank...

Meanwhile, Gazprom's report reinforces predictions by Russian state bank VEB, reported by Reuters in September, that Russia's pipeline natural gas exports to the European Union may fall to 21 bcm, almost two-thirds lower than last year and a six-fold drop from 2021.

VEB said that Russian gas exports to Europe are expected to fall to 15 bcm in 2026...

[woodpusher]

and before the Russian stooges start screaming "Propaganda!!", note that these figures are from Russia's own Gazprom! LOL

It appears those figures are alleged predictions by Russian State Bank VEB, as reported by Reuters.

"in 2023 - 21 bcm"

"in 2026 - 15 bcm"

"Gazprom's report reinforces predictions by Russian state bank VEB, reported by Reuters in September, that Russia's pipeline natural gas exports to the European Union may fall to 21 bcm, almost two-thirds lower than last year and a six-fold drop from 2021. VEB said that Russian gas exports to Europe are expected to fall to 15 bcm in 2026."

[Wallace T.]

Newsweek, and most of the legacy media, has been controlled by U.S. intelligence for decades, going back to the post-World War II era. Anything from this source is probably lies, even their citing supposed Gazprom data.

[Republican Wildcat]

Propaganda. Let's revisit this in January, when Europe is in the middle of winter and they already shut their energy sources down to go green for the WEF. They're going to need that gas in the winter, trust me.

That's what was said last year.

[Freest Republican]

$35/bbl MAGA oil now-and the invasion ends tomorrow.

it is possible given US production is still low despite the going on tripling in price-insanity.

[fireman15]

Russian exports of NG to Europe
in 2021 - 155 bcm
in 2023 - 21 bcm
in 2026 - 15 bcm

You crack me up. Russians are experts at under the table dealing. This is how the sanctions and price caps have been completely subverted by Russia and their customers. The West no longer has any clue how much oil and gas Russia is selling or how much it is selling for. And surprise... the Russians are not telling through Gazprom or any other source. But if it makes you happy... just keep on believing what Putin is telling you.

https://fortune.com/2023/09/25/russia-ukraine-war-vladimir-putin-skirts-crude-oil-export-price-cap-sanction/

I though it still had airbags. How about I reduce the price by $100

[kiryandil]

Yeah, I ain’t getting rid of my woodstove just yet.

[Owen]

Numbers:

Russia natgas production 2021 was 702 Billion cubic meters.
In 2022 it was 618 billion cubic meters.

A rather important part of this is Russian oil consumption (their winter was warm too, extending into 2023) in 2021 was 475 Billion cubic meters. In 2022 it was 408 Billion cubic meters.

So we’re talking about an available-for-export number of 210 Billion cubic meters.

The numbers in the article seem to be the first half or 2023, which of course will be 2-3 months winter, which was still warm. Thus, Russian domestic consumption would be down and certainly more so then first half of 2022 or 2021 so of course production will be down. They didn’t burn as much domestically.

Regardless, of everything I just typed, and of what is in the article . . . you all do realize GAZPROM is not Russia’s only gas production? Roughly 68%. Novatek is also a large Russian gas producer.

The numbers in the article are for first half of 2023 and only from GAZPROM. Excludes Novatek. I saw someone claim recently Russia does not export LNG. This is wrong. Russia has a large LNG export plant near the Kara Sea. The usual quote is in millions of tonnes, which are hard to convert to Billion cubic meters. No matter, if you look up Kara Sea and Russian LNG, you will see they export.

I suppose this came from Newsweek. Generic reporters. I know rather more about global oil and gas than they do.

[Spktyr]

Going to be getting awful cold in Germany this winter...

[Freest Republican]

Cool story-

while India pays fifty cents on the dollar and will not allow the Ruples to leave India-

https://www.xe.com/currencycharts/?from=RUB&to=USD&view=2Y

Ruble down 50% since 7/22-that’s called losing.

[popdonnelly]

Putin must have his war, which he blundered into.

[popdonnelly]

No, we don’t know that. Prove it.

[popdonnelly]

It’s appropriate that Russia lead the World in fertilizer.

[canuck_conservative]

the doubling of the price of oil during this time

wth are you talking about, dummy

oil hit a peak of $105 on June 1, 2022

it dropped to $68 on May 1st of this year, and is now at $90 ...

that's still a DROP from the "early-war" price

and NOT a "doubling in price"

[zek157]

Follow that unicorn all the way. Along with the unintended consequences.

[bert]

Meanwhile, Russia has a gasoline shortage

[BobL]

Close enough...well over your silly price cap, though!!!

[Vermont Lt]

We all “know” that? You sound like a UFO guy…telling everyone what you “know” as if it’s true.

In a court that would referred to as arguing facts that are not in evidence.

[Kazan]

https://sonar21.com/tony-blinken-boris-johnson-justin-trudeau-prove-the-great-sam-cooke-was-wrong/

Justin Trudeau also earns his place in this rogue gallery of history deniers, having presided over a session of the Canadian Parliament that lauded a decrepit old man who joined the Nazi Schutzstaffel (i.e. the SS) Division in Ukraine and “fought against the Russians.” Trudeau, true to form, accepted no responsibility for this debacle and tossed the Speaker of the House under the bus. But there is no doubt that Trudeau signed off on Speaker Rota’s statement praising the old Nazi.

So what the hell is going on? Have these three always been this ignorant or did they recently take a stupid pill? No! They know exactly what they are doing — spreading the crudest propaganda designed to smear Putin and the Russian people. These are despicable lies conjured up out of desperation. Blinken, Johnson and Trudeau realize that Ukraine stands on the threshold of a military defeat at the hands of Russia and are verbally flailing, like a drowning passenger on the Titanic. Re-writing history is something despots do. That tells us all we need to know about these three clowns.

[fireman15]

Ruble down 50% since 7/22-that’s called losing.

Did you learn how to read charts and do math from global warming advocates? From the chart that you provided... since 3/22 the Ruble is up 38.5%. LOL... but this is meaningless as well.

The exchange rate is determined by a number of factors but it tends to be heavily manipulated by our own and foreign government policies. It is certainly not a reliable indication of who is “winning” in this idiotic situation. The intentional devaluation of the Ruble has hurt Russia's creditors far more than it hurts Russia.

The goal of the “sanctions” was supposedly to hurt the Russian economy. And the actual effect has been to discount the value of Russian debt. “Exposure to unpaid Russian debt was highest in Italy and France, where upwards of $25 billion is owed each. In Austria and the U.S., exposure stood at $17.5 billion and $14.7 billion, respectively.” which is one of the reasons why Italy, France, and Austria opposed the “sanctions” and “price caps” on Russian products. It hurt them and a lot of people and entities here more than it hurt the Russians.

https://www.forbes.com/sites/katharinabuchholz/2022/03/01/where-banks-have-most-outstanding-debt-from-russia-infographic/?sh=60065f5573b8

It is essentially the same as if we were trying to “punish” someone by forgiving half the amount that they owed on their new car, and then declared that this was an indication that we were “winning”. This is the type of logic that the Biden administration has used to “win” this conflict. The administration whose policies you love so much is conducting its foreign policy the same way that they are “protecting” our Southern border... with stupidity and outright treasonous actions. No, my silly friend you are just lapping up the nonsense while Putin and his minions are profiting from high prices that you and I are now paying because of the idiots in charge of your neocon fantasy world.

[canuck_conservative]

irrelevant, Russian stooge

this thread is about Russia’s collapsing gas production

but, it’s yet another sign of how desperate Russia is to change the topic