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IEA reports 7% increase in gas output in Russia in 2024, raised its estimate for 2025

Russia’s natural gas production grew by 45 billion cubic meters in 2024

MOSCOW, January 21. /TASS/. Gas production in Russia in 2024 increased by 7% and amounted to 682 billion cubic meters, according to the International Energy Agency (IEA) report on the gas market. This is higher than the organization's previous estimate of 675 billion cubic meters.

The IEA also raised its estimate of gas production in Russia in 2025 to 693 billion cubic meters (+1.6% compared to 2024) from the previously expected 687 billion cubic meters.

"First data suggest that Russia’s natural gas production grew by 7% (or 45 bcm) in 2024. Stronger exports, both via pipeline and in the form of LNG, supported this growth," the agency says.

Earlier, the Russian Energy Ministry announced a preliminary forecast, according to which gas production in Russia in 2024 could amount to about 667 billion cubic meters.

Russian Deputy Prime Minister Alexander Novak noted that Russia could increase gas production by 10% by the end of 2024. Gas production in Russia in 2023 amounted to 636.9 billion cubic meters (-5.5%).

According to the baseline forecast of the Economic Development Ministry, gas production in Russia will grow to 695.4 billion cubic meters in 2025, and to 709.1 billion cubic meters in 2026.