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“The expression ‘turn’ (towards Asia) suggests a hasty decision. However, this is not true: the diversification of our activities in the East has actually been for two decades,” said the Gazprom representative.
“The heart of the world gas industry is now headed east,” Aksyutin also said, adding that the European industry is “rapidly losing its competitiveness”.
Earlier in the day, Gazprom said it produced “300.8 billion cubic meters of gas” in the period January 1 to September 15, down 15.9% year-on-year, according to preliminary data from the company.
Exports to countries outside the Commonwealth of Independent States, of which Russia is a member, decreased by 38.8 percent compared to the same period in 2021, reaching 84.8 billion cubic meters of gas.
In his speech, Aksyutin also touched on the question of the future of the gas market, stating that a significant increase in the supply of liquefied natural gas on the global market is not expected in 2023 and 2024. “North American LNG producers can only increase supplies in the long term and only if prices remain high.”
“Significant volumes of LNG on world markets may not appear until 2025. Europe will have to compete fiercely for these volumes with importers from Asian countries. This will result in an increase in the shortage of LNG on the world market, and from there – and an increase of prices, “added Aksyutin, quoted by TASS.
According to him, the main beneficiary of the energy crisis in Europe is the United States, which has managed to increase its LNG supplies to the continent.
Asked about the effects of the withdrawal of Western equipment suppliers from Russia, Gazprom’s vice president of the board replied that the holding will not suffer a shock, because it has been working on replacing these supplies for some time.
“Since 2016, only Russian pipes (gas pipelines – Belarus) have been used for the construction of 100% of these (…) The gas pumping units are also of Russian manufacture”. Everything about the management system and infrastructure is also of Russian origin, she explained.
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