BOFIT Viikkokatsaus / BOFIT Weekly Review 2015/50
The volume of natural gas exports fell in the second half of 2014 by 30 % y-o-y as exports to non-CIS countries fell and exports to Ukraine nearly vanished. Gas exports remained rather low through the spring, but since have recovered on increased demand from non-CIS countries. Ukraine, which has sought to wean itself from dependence on Russian gas, has purchased only a very small amount of Russian gas this year. Russia’s September economic forecast sees the volume of natural gas exports rising in coming years, but still not coming near the high levels of previous years, e.g. 2003–2008.
Volumes of Russian oil & gas exports
Sources: Russian customs and CBR