Russian gas production fell 13 percent in first half after EU export curbs

Russia's natural gas production fell nearly 13 percent year on year in the first half to 319.3 billion cubic metres. This was caused by Moscow's decision to halt exports to many countries in Europe, its largest market. Bloomberg reported today, citing industry data.

Russia began significantly cutting gas production last year. Following its falling-out with the West over Moscow's invasion of Ukraine, the country halted most pipeline supplies to Europe.

In June, Russia produced 42.8 billion cubic metres of gas, 8.6 percent less than in the same month last year. The year-on-year decline is gradually narrowing, as the Kremlin had already begun restricting exports at this time of year in 2022.

Most of the decline in the first half was accounted for by Gazprom, which stopped regularly publishing its operational data at the beginning of this year.

Novatek, the country's second-largest gas producer, which supplies mainly liquefied natural gas (LNG), reduced its production by 1.9 percent to 39.8 billion cubic metres in the first half. The European Union, which previously sourced about 40 percent of its gas from Russia, continues to import Russian LNG.