Russia slashes forecast for natural gas export price for 2024-2026
MOSCOW, Sept 22 (Reuters) - The Russian government cut its price forecast for its natural gas exports outside the former Soviet Union for 2024-26, according to figures presented by the economy ministry on Friday.
Russia relies heavily on sales of oil and natural gas, which account for around a third of federal budget revenues, while the government has been discussing budget plans for the next three years.
The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business.
Moscow plans to increase budget spending by 25.8% to 36.6 trillion roubles ($383 billion) in 2024, Prime Minister Mikhail Mishustin said on Friday, with hefty increases in military and social spending expected ahead of a March presidential election.
According to the basis forecast presented by the economy ministry, Russia's gas exports to countries outside the ex-Soviet Union are now seen at $434.6 per 1,000 cubic metres in 2023, at $321.7 in 2024, $308.3 in 2025 and $296 in 2026.
In the previous draft forecast earlier this month the price for 2023 was expected at the same level but stood higher, at $405.4 for 2024, $369.9 for 2025 and $341.5 for 2026.
Under a conservative scenario, the prices for 2023 are seen at $419.4 in 2023, $290.7 in 2024, $272.3 in 2025 and $260.2 in 2026, the economy ministry's data showed on Friday. (Reporting by Darya Korsunskaya; writing by Vladimir Soldatkin Editing by Gareth Jones)