Russia owns 19.9% ​​of the world’s gas reserves

Russia has the largest proven natural gas reserves in the world, which in 2020 stood at 37.4 trillion m3 and represented 19.9% ​​of global gas reserves, according to WTO data.

With this potential, Russia is the world’s second largest producer of natural gas and the largest exporter.

After Russia’s natural gas production increased substantially between 2015 and 2019, it decreased 5.7% in 2020.

As of January 1, 2021, the production of natural gas and associated petroleum gas in that nation was carried out by 260 extraction companies, including 76 subsidiaries of vertically integrated companies, 15 branches of Gazprom, 8 entities owned by Novatek, 158 independent companies. oil and gas, and 3 companies operating under production-sharing agreements.

The Gazprom123 company, under state control, represents 71.1 and 67.9% of the gas reserves and production of the Russian Federation, respectively, and 16.3% and 11.7% of the world gas reserves and production.

However, the vast majority of its gas production is located in the Ural Federal District.

Gazprom owns and operates the Unified Gas Supply System. Its main export markets are the Netherlands, Germany, Italy, Turkey and France.

Furthermore, Gazprom accounts for almost a third of gas consumption in Europe.

Gas reserves

A new avenue for the development of the sector was the production of natural gas in liquid state (LNG). There was a substantial expansion of LNG production during the period under review, driven mainly by the privately owned company Novatek.

According to data from the Ministry of Energy, LNG production was 29.5 million tons in 2019, this is 47.5% more than in 2018.

The Government recently adopted a long-term strategy for the development of LNG production, which foresees an increase in LNG production from 28 million tonnes in 2021 to about 140 million tonnes in 2035.

This must be achieved, among other means, through the construction of several new plants.