23 December 2022 | Other

Russia to cut gas production by 18-20% in 2022

Deputy Prime Minister Alexander Novak said that Russia would slash gas production by 18-20% to 671 billion cubic meters by the end of the year. It would supply 470 billion cubic meters to the domestic market. 

According to Alexander Novak, Russia's gas production may post a fall of about 18-20%. However, he noted that Russia would produce 671 billion cubic meters of gas. Gas supplies to the domestic market would increase to about 470 billion cubic meters. 

Gazprom officials said that their gas production dropped by 19.6% to 394.1 billion cubic meters from January to December. Gas exports to non-CIS countries flopped by 45.1%, while gas demand on the domestic market contracted by 5.2%. At the same time, Gazprom gas exports to China continue growing.

European Union countries agreed a gas price ceiling on December 19. It would be triggered  if prices are above 180 euros per megawatt hour starting from February 15, 2023.



Company MarketCheese
Period: 01.05.2025 Expectation: 1000 pips
GBPUSD to test level of 1.34 again
Yesterday at 10:58 AM 43
Brent sell
Period: 01.05.2025 Expectation: 660 pips
Trade uncertainty and excess OPEC+ supply are dragging down Brent
Yesterday at 08:49 AM 35
Period: 29.04.2025 Expectation: 600 pips
USDCAD to head towards 1.39400 after rebounding from 1.38200
Yesterday at 07:48 AM 28
Period: 02.05.2025 Expectation: 1669 pips
AUDCAD gains on potential easing of trade tensions between US and China
Yesterday at 07:02 AM 26
Period: 30.04.2025 Expectation: 12000 pips
ETHUSD set to test upper boundary of downtrend channel
24 April 2025 74
Period: 25.04.2025 Expectation: 500 pips
AUDUSD to fall to 0.63000
24 April 2025 42
Go to forecasts