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An expert assessed the impact of increased gas supplies to Europe on the growth of industry revenue
"Federal budget revenues from MET and export duties on gas in the first eight months of 2024 increased by 9% compared to the same period in 2023, or by 98 billion rubles in absolute terms, according to the Ministry of Finance. A key factor was the increase in gas supplies to Europe, which ultimately led to an increase in gas production," he noted.
Referring to data from the European Network of Transmission System Operators for Gas (ENTSOG), the expert clarified that Gazprom's average daily exports to the European Union (EU) in the first eight months of 2024 grew by 35% year-on-year, reaching 97 million cubic meters per day compared to 72 million cubic meters per day in January–August 2023.
This figure includes transit supplies to Serbia and North Macedonia, which are delivered via the Balkan branch of the TurkStream pipeline. As a result, Russia's natural gas production in the first seven months of 2024 increased by 10.6%, reaching 334 billion cubic meters, added the CEO of OPEN OIL MARKET.
"The increase in revenue from the gas sector has become one of the reasons for the growth in oil and gas budget revenues, which rose by 56% in the first eight months of 2024—from 4.84 trillion to 7.56 trillion rubles. It is likely that the growth in MET and export duty revenues on gas will continue in the coming months, as gas transit through the Sudzha gas metering station remains stable: in July 2024, transit volume reached 43.3 million cubic meters per day, and in August, 42.6 million cubic meters per day, according to ENTSOG data," concluded Tereshkin.
Translated using ChatGPT
Sourse: https://iz.ru/1754449/2024-09-05/ekspert-otcenil-vliianie-prirosta-postavok-gaza-v-evropu-na-rost-sb.
