Russia: natural gas export value 2021

In 2021, Russia exported around 55.5 billion U.S. dollars' worth of natural gas to other countries worldwide. The export value more than doubled compared to the previous year. The highest natural gas export value over the observed period was recorded at 69.11 billion U.S. dollars in 2008.

Gazprom's monopoly in Russian gas export

Gazprom is a Russian energy corporation established in 1989 and co-owned by the government. The company has the monopoly on the country's gas export market through a clause in the Federal Tax Code, thus limiting access of domestic competitors, such as Rosneft and Novatek, to international markets. The leading gas company in Russia, Gazprom is also the global leader in gas production by output, measured at nearly 40 billion cubic feet daily in 2020. Besides exploration and production, the company is engaged in marketing, transportation, distribution, and other supply chain components. In 2019, Gazprom accounted for nearly 11 percent of the world's natural gas output. The company is an example of a national champion, as the corporation advances Russia's interests and accounts for over five percent of the country's GDP.

Gas exports from Russia to China

Russian gas exports to non-CIS countries, including China, saw a decrease in 2019 and 2020. In May 2014, Russia signed a 400 billion U.S. dollars contract with China, the biggest natural gas deal since the collapse of the USSR. Under the contract, Gazprom was to annually supply 38 billion cubic meters of natural gas for over 30 years at a cost of 350 U.S. dollars per thousand cubic meters. In 2019, Gazprom commenced the first pipeline gas supplies to China via the pipeline Power of Siberia. In February 2022, Gazprom and Chinese CNPC agreed on a 30-year gas supply deal, increasing supplies by 10 billion cubic meters per year.