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HomeLatest NewsVEB.RF Vice President expects a reduction in Russian oil exports KXan 36...

VEB.RF Vice President expects a reduction in Russian oil exports KXan 36 Daily News

Date: March 29, 2024 Time: 21:45:37

Klepach gave an even more pessimistic forecast for petroleum products. The growth of oil refining capacities in the countries of the Asia-Pacific region (APR) will limit the possibilities of our export of petroleum derivatives, she believes.

At the same time, in March 2023, Russian oil exports reached a new record of 8.1 million barrels per day (oil – 5 million barrels per day, petroleum products – 3.1 million barrels per day ), according to the International Energy Agency (IEA).

However, with Russia voluntarily reducing oil production by 500,000 barrels per day from March to the end of the year, a decline in supplies abroad is quite possible.

The most unpleasant situation has developed with our gas exports, Klepach believes. From his point of view, Russia will be able to restore the volume of exports to the level of 2021 only in 10 years, when a new pipeline infrastructure for gas supply to the East and new capacities for the production of liquefied natural gas will be created. (LNG) will be built.

As of today, our potential to supply gas via pipeline to China is limited by Siberian Energy, which should reach its full capacity of 38 billion cubic meters of gas by 2027 (while it is scheduled to supply 22 billion cubic meters). cubic meters in 2023). There is an agreement on deliveries along the Far East Route, which is another 10 billion cubic meters, but it is not known when it will be launched.

The construction of the largest gas pipeline to China “Power of Siberia-2” (up to 50 billion cubic meters per year) is delayed due to the lack of signed supply contracts. Given the construction time and reaching its maximum capacity, it will not work until 2030. For comparison, the capacity of the exploited and operational Nord Stream is 55,000 million cubic meters. The blown Nord Stream 2 was never launched, also 55 billion cubic meters, and the Yamal-Europe gas pipeline was stopped due to sanctions, 33 billion cubic meters. And this is without taking into account the transit capacity through Ukraine, which is now used by just over 10 percent.

Opportunities for LNG trade are still limited by production capacity. In 2022, we export just under 46 billion cubic meters of LNG. Approximately half of these volumes were shipped to Europe. Another large LNG plant, Arctic LNG-2, with a capacity of 19.8 million tons (27.3 billion cubic meters) is expected to come online in the coming years.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.
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