Seleznev: A new development direction for Gazprom is to focus on the Chinese market

MOSCOW, February 18 – RIA Novosti. Gazprom’s development direction in Europe has suffered forever, it is logical for the company to reorient itself to the Chinese market, such an opinion was expressed to RIA Novosti by Mikhail Seleznev, personal broker of BCS World of Investments.

“We believe that the direction of development of Gazprom in Europe is damaged forever. The logical action for the company would be to re-orientate to the Chinese market. This movement has already begun. In the future, this will be the main direction of development,” Seleznev said. aforementioned.

At the same time, he states that it is obvious that deliveries to Europe will not stop completely, but will decrease significantly compared to 2021. “We believe that the 50 bcm limit will be an insurmountable obstacle for the European direction. However, it is worth noting that prices will remain above $200 for a longer period of time and this will compensate for the decrease in volumes to some extent.” ” he adds.

The Power of Siberia pipeline will be able to increase gas supply to 38 billion cubic meters by 2025, and up to 50 billion cubic meters can be delivered through the planned Power of Siberia 2 pipeline. In addition, deliveries to China via the “Far East route” will add another 10 billion cubic meters to the volume.

Seleznev added that Gazprom also plans to develop two large gas processing clusters: the Amur gas processing plant and the LNG production complex in the Ust-Luga region. He states that LNG will significantly expand existing directions for gas sales.

“Gazprom states that in its development strategy it aims to abandon fossil fuels in the future and actively develop the hydrogen direction. However, it emphasizes that natural gas will remain in demand as a transition fuel. The company’s development plans include a broad development plan. Gas supply and gasification of Russian territory. ,” – concludes the interlocutor of the agency.