Russian giant Gazprom said its natural gas production during the first nine months of the year had hit an estimated 368 billion cubic meters.

Of course, their production rises. Their legacy fields (mainly Urengoy and Yamburg) still produce gas and their new sources in the Yamal peninsula are already partly coming online. The interesting question is what will happen when the pressure in the legacy fields will start to drop and production must decline and then stop fairly quickly. This should be a process that should start in earnest in 2022 and give us headscratchers until 2028 when the fields should be empty. Will all the new gas from Yamal suffice to replace the shortfall from the legacy fields to come back to the leve before the rise?

Linkedin Thread