Russian gas: Exports outside former Soviet bloc fall 45.5% in 2022

Gas exports from Russia to countries outside the former Soviet bloc fell 45.5% in 2022 – according to information from Gazprom released on Monday, the 2nd, after a year characterized by a sharp drop in the supply of Russian hydrocarbons to Europe due to the war in Ukraine.

In a statement, Gazprom chairman Alexei Miller said exports out of these countries totaled 100.9 billion cubic meters, compared to 185.1 billion in 2021.

Russia has reduced its hydrocarbon exports to the European Union (EU) after Western countries imposed economic sanctions in retaliation for the military offensive in Ukraine.

In early December, the EU, G7 countries, and Australia agreed to cap the price of Russian oil at $60 a barrel to reduce Moscow’s revenue and, therefore, its ability to finance the military assault.

In response, Moscow announced that it would ban the sale of its oil to countries that cap Russian oil prices from February 1. To make up for these losses, Moscow is trying to increase gas supplies to energy-hungry China.

At the end of December, Russian President Vladimir Putin launched the digging of a vast deposit located in Siberia, which should allow for an increase in exports to China.

Russia also plans to build the Force Siberia 2 pipeline, starting in 2024, to supply gas to Beijing via Mongolia.

“The prospects for increased global gas consumption are primarily linked to Asia, and particularly to China,” said Gazprom’s president.

Source: Exame

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