Russia: Gas exports out of the former Soviet bloc fell in 2022 | War in Ukraine

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Russia: Gas exports out of the former Soviet bloc fell in 2022 | War in Ukraine

Gazprom deliveries to Europe have fallen sharply since the outbreak of the war in Ukraine.

< p class="e-p">Gazprom's gas exports, excluding countries of the former Soviet bloc, fell 45.5% in 2022, according to results announced on Monday, after a year marked by a sharp drop in deliveries to the United States. Europe in the wake of Western sanctions against the offensive in Ukraine.

In a statement, Gazprom CEO Alexei Miller said the group exported 100.9 billion cubic meters of gas in 2022 to far-abroad countries, a term not including ex -Soviet republics.

In 2021, Gazprom had exported 185.1 billion cubic meters to these same countries.

After economic sanctions taken by the West against Russia, in reaction to its military intervention in Ukraine, Moscow has sharply reduced its hydrocarbon exports to the European Union (EU).

At the beginning of December, the EU, the G7 countries and Australia also agreed on a cap on the price of Russian oil for export at $60 per barrel, in the United States. #x27;hope to deprive Moscow of significant revenues.

In response, Russia announced that it would ban from February 1 the sale of its oil to foreign countries that use its oil cap.

To make up for the losses, Moscow is trying to increase its gas supplies to the energy-intensive Chinese economy, and has accelerated this movement.

At the end of December, Vladimir Putin launched the exploitation of a vast deposit located in Siberia which should make it possible to increase exports to China. Russia is also planning the construction of the Siberian Force 2 gas pipeline from 2024 to supply Beijing via Mongolia.

On Monday, the CEO of Gazprom noted that the prospects for a rise in gas consumption in the world is mainly linked to Asia, and, first and foremost, to China. Mr. Miller claimed that in 2022 deliveries to Beijing exceeded, at the request of China, the quantities foreseen in the contracts.

In addition to the Siberian Force gas pipeline 1, Gazprom plans to increase its deliveries from the Far East and via the future Siberian Force 2 gas pipeline. According to Alexei Miller, these three export routes should deliver around 100 billion cubic meters of Russian gas to China.

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