Russia Forecasts Export Gas Price Will More Than Double In 2022

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Russia Forecasts Export Gas Price Will More Than Double In 2022

According to an economy ministry forecast seen by Reuters news agency, Russia forecasts its average export gas price will more than double this year to $730 per 1,000 cubic metres before gradually falling until the end of 2025 amid a decrease in pipeline gas exports.

Gas flows from Russia, Europe’s top supplier, are currently running at reduced levels in the wake of the Russian invasion of Ukraine and some European countries have been cut off for refusing to pay for gas in roubles.

Russia’s economy ministry has forecast that pipeline gas exports by Gazprom will fall to 170.4 billion cubic metres this year, compared with its forecast published in May of 185 bcm.

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