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January gas supplied by Russia to Europe was 1.7b m3 compared with 13b m3 average per month for the 2021 year. [32] The price of natural gas in Europe fell to an 18-month low in mid February of €49pmh with gas storage across the European Union at 65% capacity, well above the average of 45% at this time of year. [33]
The U.S. and Russia have been the predominant producers of natural gas. [1] Russian natural gas production (red) and exports (black), 1993–2011 [needs update]. In 2021 Russia was the world's second-largest producer of natural gas, producing an estimated 701 billion cubic meters (bcm) of gas a year, and the world's largest natural gas exporter, shipping an estimated 250 bcm a year. [2]
On 19 December 2022 the European Energy ministers agreed on a price cap for natural Gas at €180 per megawatt-hour [181] aiming to stop Russia forcing European gas prices upwards. Exports of gas by Gazprom from Russia in 2021 was 185Bcm, [ 182 ] in 2022 it fell by 45% to 100Bcm [ 183 ] and in 2023 it fell again to 62Bcm.
Russia has the largest reserves and was the largest exporter of natural gas. [1] It has the sixth largest oil reserves, and is one of the largest producers of oil. [2] It is the fourth largest energy user. [3] In 2009, Russia produced 12% of the world's oil and had a similar share of global oil exports. [4]
MOSCOW/KYIV (Reuters) -Russian gas exports via Soviet-era pipelines running through Ukraine came to a halt on New Year's Day, marking the end of decades of Moscow's dominance over Europe's energy ...
MOSCOW (Reuters) -Russia said on Monday the situation with European countries that buy its gas through a transit deal via Ukraine was very complicated and needs more attention, a day after talks ...
Russia natural gas in 2021 accounted for 45% of imports and almost 40% of European Union gas demand. [3] Share of Russia in EU and UK gas demand, 2001-21. In late 2019, Russia launched a major eastward gas export pipeline, the roughly 3,000 km-long Power of Siberia pipeline, in order to be able to send gas from far east fields directly to China.
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