Ukraine is increasing gas production for the second year in a row.

According to industry experts, in 2024 Ukraine increased gas production by 2.2% – to 19.12 billion cubic meters. The production growth rate in 2024 was higher than in 2023 when production increased by 0.9%. In addition, this is the highest growth in production since 2018. In the period from 2019 to 2022, gas production volumes decreased.

State-owned companies remained the main driver of the increase in Ukrainian natural gas production in 2024. Last year, the country’s largest state gas production company, Ukrgazvydobuvannya, produced 14.55 billion cubic meters of gross natural gas, 4.6% more than in 2023. Ukrgazvydobuvannya’s production volumes were the highest in six years.

Also, Ukrnafta produced 1.17 billion cubic meters of natural gas last year – 6.6% more than in 2023. These are the largest natural gas production volumes for the company since 2016.

Private companies, on the other hand, reduced their natural gas production by 8% – to over 3.4 billion cubic meters. Production by private companies was at its lowest level since 2016.