..., they rise again as the EU starts filling its underground gas storage facilities before the new heating season," he said. He noted that this year, attention is focused on geopolitics, as there is still no clarity about whether contracts for Russian gas supplies via Ukraine will be extended. A decision on this issue is expected soon, as current contracts are set to expire at the end of December. "Gas prices could rise further from current levels by the end of the season, unless there are ...

... and gas companies like Total, Exxon, and Shell downwards, while Rosneft has maintained a stable outlook. Rosneft holds a more resilient position due to its substantial oil reserves, low extraction costs, and stable cash flows. S&P experts believe that Russian oil and gas companies can be regarded as some of the most risk-resistant in the sector. In the global market, traditional oil and gas companies are increasingly being challenged by representatives of alternative energy. In light of the climate agenda, investor ...

... prices in Europe. In H1 2023, the average price at the region's largest hub, TTF, was $504 per 1,000 cubic meters, whereas in H1 2024, it dropped to $336 per 1,000 cubic meters. Increased gas production also played a role: according to Rosstat, natural gas production in H1 2024 grew by 9.4% year-on-year, reaching 292 billion cubic meters. Benefiting the Budget As for the oil sector, according to EIA data, Russian oil production in July 2024 was 9.07 million barrels per day—close to the current OPEC+ quota, which caps Russia's oil production at 8.98 million barrels per day between June and September. By December, Russia's quota will increase to 9.1 ...

... Customs. Supply volumes grew 2.2 times from $43 billion in 2019 to $95 billion in 2023. Moscow and Beijing are also actively transitioning to settlements in national currencies, with the share of transactions in rubles and yuan exceeding 90% last year. Russian gas exports to China, including liquefied natural gas (LNG), reached a historic high of 34 billion cubic meters in 2023. In February 2024, Gazprom surpassed Turkmenistan, the long-time leader in pipeline gas supplies to China. Deliveries via the Power ...

... economically inexpedient. Regulation of this natural monopoly allows the state to set tariffs and monitor the quality of services so that consumers can receive a stable supply of electricity at affordable prices. 2. Gas supply Gazprom is the largest Russian gas company, and is also a natural monopoly. Gazprom controls the production, transportation, and export of gas from Russia, and its infrastructure includes thousands of kilometers of pipelines. Transporting gas over such long distances and managing a ...