Russia Gas Exports to Rise

Russia Gas Exports to RiseRussia Gas Exports to Rise

Exports of natural gas from Russia are expected to grow while crude sales are most likely to go down as a result of a revival in Libyan oil production, and the start of light crude exports from the United States, according to the data provided by Russia's Ministry of Economic Development.

Exports of natural gas from Russia will amount to 190 billion cubic meters in 2015, 191 billion cubic meters in 2016, and 191.5 billion cubic meters in 2017, an evaluation of basic macroeconomic indicators from the ministry of economic Development shows.

Forecasts of natural gas exports compared with the budget for 2014-2016, in addition to index budget projections for 2017, have slightly changed. Thus, the rate for 2015 increased by 0.9 percent, the 2016 rate went up by 0.4 percent, while the 2017 rate decreased by 0.3 percent, the RIA Novosti reported.

In comparison with the forecast published by the ministry in May, the rate of gas exports from Russia in 2015 decreased by 1.2 percent and by 0.8 percent in 2016 and 2017.

According to Russia's Federal State Unitary Enterprise, Central Dispatching Department of Fuel Energy Complex (CDU TEK) gas exports in 2013 increased by 10 percent totaling some 204 billion cubic meters.

Meanwhile, oil exported from Russia in 2015 and 2016 will amount to 227.5 million tons and 229.5 million tons in 2017; with 153.5 million tons of oil in 2015, 149 million tons in 2016, and 144.2 million tons in 2017.

The ministry downgraded the outlook for oil exports in 2014 and 2015 by 4.3 percent and 6.2 percent respectively, compared with the budget for 2014-16. Forecasts for 2017 oil exports predict a 8.2 percent decrease compared with respect to budget projections.

In comparison with the forecast published by the Ministry in May, Russia's oil exports have been cut by 0.96 percent in 2015-16 and by 0.2 percent in 2017. According to the CDU TEK, oil exports decreased by 2.1 percent in 2013, amounting to 234.86 million tons.