Viktor Zubkov, who chairs Gazprom’s board, addressed attendees at the All-Russian Forum of Gas Engines and highlighted a long-standing gas supply relationship that has stretched across more than a century. He emphasized that the ongoing development of natural gas reserves is a critical driver for sustainable economic growth, linking energy security to broader prosperity. This perspective reflects Gazprom’s long history of domestic gas provision and the belief that gas remains a foundational element for Russia’s industrial and regional development, shaping markets, employment, and regional investment over many generations. The remarks underscore the company’s role not only as a supplier but as a creator of economic stability through a resilient gas base that supports power generation, manufacturing, and export opportunities. (Gazprom press briefing, 2024)
Gazprom stands out as a global leader in natural gas reserves among state and private energy players. The company’s recoverable gas resources have consistently ranked among the highest on the world stage, and recent evaluations show Gazprom Group possessing substantial volumes in reserve estimates. By the close of the previous year, the net recoverable gas volume attributed to Gazprom reached approximately 35 trillion cubic meters, reinforcing its status as a dominant force in gas supply and energy planning. The speaker noted that current reserve levels effectively place gas at a horizon of about a century, reinforcing the message that natural gas will remain a central pillar of the nation’s energy mix for generations to come. This projection aligns with strategic planning that considers energy demand growth, industrial modernization, and regional development programs, all of which can benefit from a stable and affordable gas supply. (Energy market analysis, Gazprom briefings, 2024)
In the broader energy dialogue, the assertion that oil may become scarcer in the future has been paired with a focus on gas as a more abundant and versatile resource. The speaker stressed that Russia hosts substantial gas reserves, which can underpin nationwide development without being overly dependent on crude oil fluctuations. This view highlights gas as a reliable energy vector capable of supporting power generation, heating, and industrial processes while diversifying the country’s energy portfolio. The discussion situates Gazprom as a key actor in ensuring energy access and price stability for industrial users and households alike, positioning gas as a cornerstone of economic strategy and resilience in the face of evolving global energy dynamics. (Policy outlook and Gazprom statements, 2024)
Earlier discussions within Gazprom also touched on the potential liberalization of wholesale gas prices for industries in specific Russian regions. The vice president of the company, Vitaly Markelov, presented the concept at a State Energy Council session, outlining how moving toward competitive pricing could reshape the domestic market. The proposal envisions increased revenue opportunities for gas producers and traders within Russia while simultaneously offsetting potential declines in export earnings caused by price pressures abroad. The policy framing suggests that a transition to market-based pricing could expand industrial competitiveness, spur efficiency, and attract investment in gas-based infrastructure and services, all within a framework that seeks to maintain affordability for consumers and strategic stability for national energy policy. The discussion reflects a broader push to modernize energy markets and align domestic pricing with global benchmarks, while carefully balancing energy security, reliability, and social considerations. (State Energy Council briefing, 2024)