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Ministry of economic development of the Russian Federation

Energy ministry expects Russian oil export to rise by 20-25 mln tonnes within five years

15.11.2019

Russia’s Energy Ministry expects crude oil exports to rise by 20-25 mln tonnes within five years to 280 mln tonnes, whereas gas exports - to increase to 300 bln cubic meters by 2022, Minister Alexander Novak said in an article in the Energy Policy magazine published on Friday.

"We project that within five years we will be able not only to maintain our positions on the global markets, but also to boost oil exports by 20-25 mln tonnes (to around 280 mln tonnes) and gas - by 40-45 bln cubic meters (to about 300 bln cubic meters by 2022)," the article said.

In 2018, Russia boosted crude exports by 2.9% compared with 2017 to 260 mln tonnes, while gas exports gained 4.9% to 220.6 bln cubic meters.

Source: TASS



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