Russian Deputy Prime Minister Alexander Novak.
Moscow – Gas exports from Russia fell by 25.1 percent to 184.4 billion cubic meters last year, mainly due to sabotage on the Nord Stream gas pipelines and the shift of European customers from Russian gas. Deputy Prime Minister Alexandr Novak stated this today. The situation surrounding the supply of Russian gas to Europe became complicated when Russia launched an attack on Ukraine last February and the European Union adopted a series of anti-Russian sanctions in retaliation.
According to Novak, Russia is now working to diversify its export infrastructure and could sell more gas to Asia and the Pacific. “To this end (Russian state gas company) Gazprom is speeding up the construction of the route to the Far East and the Power of Siberia 2 gas pipeline, according to the Russian President (Vladimir Putin)'s instructions,” Novak said, according to Reuters. Russia supplies gas to China through the existing Power of Siberia gas pipeline.
Vice Prime Minister Novak also stated today that Russia intends to sell over 80 percent of its oil exports this year to countries it considers friendly. Recently, due to sanctions by Western countries, Russia has been increasing its oil supplies to China and India, where it sells this raw material at a significant discount. introduced a maximum price of $60 per barrel of Russian oil transported by sea. If this limit is exceeded, it is prohibited to transport oil and insure its transportation. This year, on February 5, price ceilings for Russian oil products also entered into force. The European Union has also imposed an embargo on the import of Russian oil and oil products.
According to data from traders and analysts, the seaborne export of Russian oil products fell by about ten percent month-on-month between February 1 and 12. According to Reuters, the reason is the EU embargo, the lack of tankers and also port closures due to storms.