Russian natural gas production by company 2015-2019

The Moscow-based state-owned company Gazprom produced 479 billion cubic meters of natural gas in 2019, increasing its production volume by 73 billion cubic meters compared to 2015, thus being the leading natural gas company in Russia. The second largest volume of gas was produced by NOVATEK, which was measured at approximately 70 billion cubic meters in the latest year under consideration.

Leaders on the gas market

Gazprom, NOVATEK, LUKOIL, and Rosneft are among the world’s ten gas and oil companies with the highest net income. Gazprom, which ranked first, became a public joint stock company from Gazprom State Concern in 1993. The latter was founded in 1989 as a result of the restructuring of the Soviet Gas Industry Ministry. NOVATEK, established in 1994 under the name AOOT FIK Novafininvest, seeks to explore liquefied natural gas fields in the Arctic region, aspiring to become a global leader in LNG production.

Which Russian gas companies are under sanctions?

Rosneft and Gazprom Neft were under European Union sanctions due to the Russian annexation of Crimea and Sevastopol and the violation of territorial integrity of Ukraine since 2014. Those were sectoral restrictions targeting the Russian fuel and energy complex. Gazprom, LUKOIL, Gazprom Neft, NOVATEK, and Surgutneftegas were under the U.S. sanctions due to the same issue. Furthermore, the U.S. government has threatened to impose sanctions on Gazprom due to the construction of the gas pipeline Nord Stream 2, which it saw as a threat to European energy security.