Ukraine increased gas production by 0.9% - up to 18.7 bcm in 2023

Ukraine produced more than 18.7 bcm of gross natural gas in 2023, according to ExPro calculations. Compared to last year, gas production increased by 0.9% - from 18.54 to 18.7 bcm.

Last year, natural gas production in Ukraine fell by 6% due to the full-scale invasion of Russia. Already in 2023, companies showed an increase in gas production volumes, primarily state-owned.

Ukrgazvydobuvannya JSC remains the country's largest gas production company. In 2023, the company produced more than 13.9 bcm of gross natural gas, 5% more than last year (almost 13.23 bcm). Also, the company was able to produce 1.7% more gas in 2023 than in 2021, before the Russian invasion. Commercial gas production of Ukrgazvydobuvannya amounted to about 13.22 bcm, also 5% more than last year.

In 2023, Ukrnafta PJSC increased natural gas production by 6% - to almost 1.1 bcm. The start of drilling new wells and carrying out service work on existing wells helped to increase the volume of gas production after the drop last year.

On the contrary, private companies reduced the volume of natural gas production in 2023 by almost 14% - to 3.7 bcm. The reduction of production volumes by private companies is connected both with the difficulties of selling gas on the domestic market in conditions of weak demand and the ban on gas exports, as well as with the suspension of some special permits (primarily, Ukrnaftoburinnya and Smart Energy).

However, when some companies reduce natural gas production, those that actively increase production volume appear on the market. For example, the Nadra-Geoinvest group was able to enter the top 3 private gas production companies of Ukraine in the last months of the year.