OREANDA-NEWS By the end of 2024, the total volume of gas production in Russia may increase by 4.8 percent compared to last year's level and reach 668.2 billion cubic meters. This is reported by TASS with reference to the forecast of the Ministry of Economic Development (Mineka) of the Russian Federation.

The achievement of the above level is included in the basic scenario, the ministry said. The positive dynamics, as predicted by the Ministry of Energy, will continue in the next few years. So, in 2025, according to the expectations of the Ministry of Energy, production in Russia will grow to 695.4 billion cubic meters, in 2026 to 709.1 billion, and in 2027 to 729.7 billion.

The ministry expects that the average contract prices for Russian gas for buyers from neighboring countries this year will decrease to $ 279.9 per thousand cubic meters from $ 318.8 in 2023. In the future, this dynamic will continue. In 2025, according to the Ministry of Energy, the indicator will drop to $ 259.1 per thousand cubic meters, in 2026 - to $ 247.6, in 2027 — to $ 240.2. As for the average contract prices for non-CIS countries, in 2024 they will amount to $ 328.4, in 2025 — $ 304.5, in 2026 - $ 288.3, in 2027 — $ 280.2.

Earlier, a noticeable increase in gas production in Russia was predicted by the Ministry of Energy (Ministry of Energy). The ministry expects that by 2030, the total production of this type of fuel in the country may grow to 922 billion cubic meters, and by 2050 - exceed the mark of a trillion cubic meters. For comparison, in 2023, Russia produced 638 billion.