Kept analysts believe Russia could relocate main gas exporter to Europe
MOSCOW, January 25 – RIA Novosti. Kept analysts say that in the future, Russia may regain its place as the main gas exporter to the European market.
“Despite the geopolitical conflict and the damage to the Nord Stream infrastructure, there is an opinion that Russia can reclaim its place as Europe’s leading natural gas supplier in the future – this viewpoint was voiced by 40%. Kept’s “To the Development of Russian Industry in the Context of Geopolitical Turbulence” “Analysis of Key Trends and Prospects for Respondents in a survey conducted during an industry conference by the Oxford Institute for Energy Research (Oxford Institute for Energy Research),” says the report.
Kept analysts note that Qatari Energy Minister Saad Sherida al-Kaabi expressed a similar stance in January. This is due to infrastructural and economic constraints: importing liquefied natural gas (LNG), the main alternative to pipelines, is costly considering large-scale regasification capacities, as well as delivery from the Middle East and the United States. States reported that Gazprom exceeded contract prices.
Kept added that the restoration of Russia’s gas exports to Europe will be facilitated by the creation of a gas hub in Turkey and expanding energy cooperation with the CIS countries.
The report also states that the risk of completely abandoning Russian natural gas, which occupies approximately 40 percent of the EU market according to the 2021 data of European countries and is supplied through main gas pipelines, is assessed at a medium level in the short term.
Gazprom’s exports to non-CIS countries in 2022 amounted to 100.9 billion cubic meters of gas, which is 45.5% (84.2 billion cubic meters) lower than in 2021. Deliveries to Europe last year, the main route – Nord Stream – and the balancing route – Yamal – were stopped along Europe, reduced by three times through Ukraine’s gas transport system, but increased in the Asian direction – along the Power of Siberia – to China. Now Russian pipeline gas is supplied to Europe via one of the two entry points to Ukraine’s gas transport system and Turkey, where it comes via Turkish Stream and Blue Stream.
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