In 2024, the volume of natural gas production in Ukraine increased by 2.2%, reaching 19.12 billion cubic meters. Production growth in 2024 exceeded that of 2023, when volumes increased by only 0.9%. About this informs ExPro.
This is the largest increase since 2018, while 2019-2022 saw a decline in production. In 2022, production fell by 6% due to the full-scale invasion of the Russian Federation, but already in 2023, state-owned companies were able to partially restore volumes.
State-owned companies remained the main driver of growth in 2024. In particular, JSC “Ukrgazvydobuvannya”, the largest gas producer in Ukraine, increased production to 14.55 billion cubic meters, which is 4.6% more than in 2023. This is the company’s highest figure in the last six years — since 2019, when production reached 14.9 billion cubic meters.
“Ukrnafta” also demonstrated positive dynamics, producing 1.17 billion cubic meters, which is 6.6% more than in 2023, and became a record for the company since 2016.
At the same time, private companies cut production by 8% to 3.4 billion cubic meters, the lowest figure since 2016. The reasons were the blocking of special permits, in particular for “Ukrnaftoburinnia”, which did not work from December 2023 to August 2024. In August, the company resumed work, which allowed for a slight improvement in performance, but in November, the State Geological Survey suspended Smart Energy’s licenses again.
