Novak: Russia's Gas Exports to Europe Reach 50 Billion Cubic Meters

According to a report attributed to Deputy Prime Minister Alexander Novak, the total export of Russian gas to European countries has increased by 18-20% this year compared to 2023.

According to Novak, gas supplies, including both pipeline gas and liquefied natural gas (LNG), exceeded 50 billion cubic meters during the January-November period.

Novak stated, "Despite all the statements and sanction pressures, gas is in demand because it is an extremely eco-friendly product. And Russian gas is the most cost-effective product in terms of both logistics and price."

The increase occurred from a very low base in 2023, where supplies of Russian pipeline gas to Europe sharply declined by 55.6% to 28.3 billion cubic meters due to the deterioration of relations between Moscow and the West as a result of the Ukraine conflict.

Russia's gas export via pipelines to Europe faces serious challenges. The five-year gas transit agreement between Moscow and Kiev, which has allowed Russian exports to flow through Ukraine despite the war, is set to expire at the end of the year, and Ukraine has announced that it will not renew the agreement.