Russia slashes forecast for natural gas export price for 2024-2026
(Reuters) - The Russian government cut its price forecast for its natural gas exports outside the former Soviet Union for 2024-26, according to figures presented by the economy ministry on Friday.
Russia relies heavily on sales of oil and natural gas, which account for around a third of federal budget revenues, while the government has been discussing budget plans for the next three years.
Moscow plans to increase budget spending by 25.8% to 36.6 trillion roubles ($383 billion) in 2024, Prime Minister Mikhail Mishustin said on Friday, with hefty increases in military and social spending expected ahead of a March presidential election.
According to the basis forecast presented by the economy ministry, Russia's gas exports to countries outside the ex-Soviet Union are now seen at $434.6 per 1,000 cubic meters in 2023, at $321.7 in 2024, $308.3 in 2025 and $296 in 2026.
In the previous draft forecast earlier this month the price for 2023 was expected at the same level but stood higher, at $405.4 for 2024, $369.9 for 2025 and $341.5 for 2026.
Under a conservative scenario, the prices for 2023 are seen at $419.4 in 2023, $290.7 in 2024, $272.3 in 2025 and $260.2 in 2026, the economy ministry's data showed on Friday.
Related News
Related News
- Japan's Mitsubishi to acquire stake in Petronas LNG plant
- McDermott awarded Rovuma LNG Phase 1 FEED contract in Mozambique
- Fincantieri LNG-powered Star Princess launched in Monfalcone
- Wood leads industry project to accelerate CCUS with guidelines for CO2 specifications
- Picarro launches handheld solution for natural gas leak investigation and closed-loop leak management
- Picarro launches handheld solution for natural gas leak investigation and closed-loop leak management
- Fincantieri LNG-powered Star Princess launched in Monfalcone
- Sonatrach, Saudi Aramco raise prices for LPG by 3%–4% in October
- Amarinth secures $1-MM order of API 610 pumps for Coral North FLNG project in Mozambique
Comments