Russia: Gas Production Increases by 7% in 2024

Vladimir Putin to Xi Jinping: “China is the largest consumer of Russian energy resources”

According to a recent report by the International Energy Agency (IEA), Russia’s natural gas production in 2024 increased by about 7% to 682 billion cubic meters. IEA analysts estimate that “Russia will continue to increase gas production in 2025, growing by 1.6% to 693 billion cubic meters.”

Following Kiev’s decision to ban the transit of Russian gas, which has been supplied to European countries for decades, China has become “the largest consumer of Russian energy resources.” Russian President Vladimir Putin said this during talks with Chinese President Xi Jinping via videoconference on Tuesday, January 21 (pictured).

“China is the largest consumer of Russian energy resources. For example, Russia now ranks first in terms of oil exports to China,” the Russian president said. Putin also recalled that in December 2024, a document on the implementation of a comprehensive program of cooperation between the two countries on fast neutron reactors and closing the nuclear fuel cycle was developed. According to the Russian president, “these are the technologies of the future, which belongs to nuclear power.”