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Gazprom Chief Executive Officer Alexey Miller told the company's annual shareholders meeting on June 26 that global gas consumption hit a record high in 2025 and is set to rise further by mid-century. He also outlined progress on several major infrastructure projects and argued that recent events have pushed foreign energy firms back toward oil and gas investments.
Coverage Comparison
All information in this article comes from TASS, the Russian state news agency, which reported Miller's remarks in a series of articles covering different aspects of the shareholders meeting. TASS presented the statements in a straightforward, informative style, with no notable editorial slant or loaded language beyond Miller's own phrase about foreign companies being brought "back to reality."
The various TASS reports each focused on a distinct topic: one highlighted the record global consumption figure, another detailed construction progress at the Ust-Luga complex, a third announced the upcoming Belogorsk-Khabarovsk pipeline, and a fourth quoted Miller's comments on global energy companies and Gazprom's reserve replenishment. Together, they paint a picture of a company emphasizing both current achievements and long-term growth plans.
Key Claims
Record Global Gas Consumption and Future Demand
According to Miller, global gas consumption reached an all-time high of 4.3 trillion cubic meters in 2025, and he projected that by 2050 this figure would rise by more than 30% to 5.7 trillion cubic meters. He attributed the expected growth to new centers of economic development, predicting that around 70% of gas consumption would be concentrated in the Global South by mid-century.
The International Energy Agency, as cited by TASS, had previously estimated global gas demand growth at less than 1% for 2025, with a projected acceleration to 2% in 2026, which would lead to a new consumption record.
Ust-Luga Gas Processing Complex
Miller reported that the gas processing complex in Ust-Luga, part of the ethane-containing gas processing facility in the Leningrad Region, is 80% complete. The complex will have a capacity of 45 billion cubic meters of gas per year. He also mentioned the Amur Gas Processing Plant in eastern Russia, which has a capacity of 42 billion cubic meters per year and saw its fifth processing train launched in 2025.
The launch of the first and second trains of the Ust-Luga processing complex is scheduled for 2026 and 2027, respectively. The start-up of the first and second trains of the associated LNG plant is planned for 2027 and 2028, and the gas-to-chemicals complex within the project will be launched in two stages, in 2026 and 2027.
Belogorsk-Khabarovsk Gas Pipeline
Miller announced that Gazprom will commission the Belogorsk-Khabarovsk gas pipeline in 2026. The pipeline will connect the existing Power of Siberia and Sakhalin-Khabarovsk-Vladivostok gas pipelines, representing the first stage of the Eastern Gas Supply System megaproject. Miller said the project would integrate existing gas transmission infrastructure in the western and eastern parts of the country, create opportunities for gasifying the region, develop the economies of Eastern Siberia and the Far East, and increase exports to China.
Shift in Foreign Energy Companies' Strategies
Miller argued that "recent events" have brought a number of major foreign energy companies "back to reality," as those that had previously proclaimed a complete abandonment of fossil fuels are now announcing new oil and gas projects. He stated that the reliability of gas supplies has again become an absolute priority and that gas resources have become a crucial competitive advantage.
Gazprom's Gas Reserves
Miller said that Gazprom is the global leader in terms of gas reserves, and that the company ensures annual investments in replenishing its resource base. In 2025, Gazprom Group increased its gas reserves by more than it produced for the 21st consecutive year. The increase in gas reserves resulting from exploration activities amounted to 437.3 billion cubic meters, according to Miller.