Overview of Russia’s gas sector in 2025, covering production, infrastructure, and exports amid Western sanctions.

Analysis

Russia

Analyst, Europe & CIS

Lukian De Boni

Infrastructure 

Power 

<p class="MsoNormal"><span lang="EN-US">In 2025, Russia remains one of the world&rsquo;s energy superpowers. In 2024, it produced 685 billion cubic meters (bcm) of natural gas, maintaining its position as the world&rsquo;s second-largest natural gas producer and exporter after the United States. Gas exports totaled 166.2 bcm. Russia also holds the world&rsquo;s largest proven gas reserves, estimated at 44.5 trillion cubic meters (tcm), which, according to official estimates, would support output at current levels for more than a century. It also holds vast untapped potential, with the Arctic region containing vast unexplored gas reserves.</span></p>
<p class="MsoNormal"><span lang="EN-US"><o:p></o:p></span><span lang="EN-US">On Jan. 10, 2025, the US imposed its most severe sanctions yet on Russia&rsquo;s oil and gas sector, targeting major producers like Gazprom Neft (Gazprom&rsquo;s oil-producing subsidiary), Surgutneftegaz, and key infrastructure including refineries, offshore projects, and LNG plants such as Arctic LNG 2, Ust-Luga, and Sakhalin-II. The sanctions also extended to over 180 oil tankers, energy service providers, and individuals, significantly tightening restrictions on any dealings with Russia&rsquo;s energy industry.</span><span lang="EN-US"></span><span lang="EN-US"></span></p>
<h2><em><a href="~/members/members?ContentID=79489" title="" target="">Read more &gt;&gt;</a></em></h2>
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Russia’s Oil & Gas Sector in 2025: A Strategic Shift East – Part 2: Gas 

<h2>Key Points</h2>
<ul>
<li>Russia holds the world&rsquo;s largest natural gas reserves at 63.5 trillion cubic meters, accounting for over 20% of the global total;</li>
<li>Since March 2023, Russia has suspended publication of official oil and gas production statistics, with the ban set to remain in place until at least April 2026, and production data being disclosed primarily through official statements;</li>
<li>Gas production reached 685 billion cubic meters in 2024, up from 638 bcm in 2023, but still 11.7% below 2021 levels;</li>
<li>Hard-to-recover reserves make up an estimated 54% of Russia&rsquo;s total gas resources, including 23% located offshore, though their development has been severely hampered by Western sanctions;</li>
<li>Russia&rsquo;s gas output remains concentrated in Western Siberia, especially the Yamal region in the Arctic, though new production areas are being explored in Eastern Siberia and the Far East;</li>
<li>Of the seven export pipelines to Europe, only TurkStream and Blue Stream remain operational;</li>
<li>The Power of Siberia 1 pipeline to China is expected to deliver its full contractual volume of 38 bcm in 2025, but the Power of Siberia 2 pipeline remains in planning, with significant obstacles to its implementation;</li>
<li>To offset losses from pipeline exports, Russia aims to produce 138.5 bcm of LNG by 2030, up from 47.2 bcm in 2024, though several large-scale LNG projects face delays due to sanctions;</li>
<li>Total gas exports in 2024 were roughly one-third below pre-war levels, though they increased slightly compared to 2023;</li>
<li>European imports of Russian gas are now about one-third of pre-war volumes, and rising deliveries to China and other partners have not fully compensated for the decline;</li>
<li>Though Gazprom returned to profit in 2024 after reporting a net loss of around US$7 billion in 2023, most of the profit was due to accounting adjustments, while gas export revenues remain 64% lower than in 2022.</li>
</ul>
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Natural Gas 

Liquefied Natural Gas (LNG)

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