Page 14 - FSUOGM Week 18 2022

FSUOGM POLICY FSUOGM

Gazprom is Moldova’s sole supplier of natural gas (Photo: Moldovagaz)

Moldovagaz also reported that gas deliveries “Seven international companies are ready to
were planned on the traditional transportation supply natural gas to Moldova, including [firms
route and that the price calculated for May was from] Romania, Poland and the Netherlands,”
$910 per 1,000 cubic metres, down from more she said.
than $1,100 in April. Moldova depends 100% on imported gas
Prime Minister Gavrilita had said on April 27 and 80% on imported electricity. By cutting gas
that the government had alternative solutions, supplies to Moldova, Gazprom would force the
meaning that Moldovan citizens would not be country to buy much more expensive electricity
left without gas. from Ukraine or from the European market. ™

NEWS IN BRIEF

Russian-owned oil Breakeven oil price for Lithuanian and Spanish

refineries in Germany and Azerbaijan in 2022 will be foreign ministers call for

Italy to be nationalised about $42 per barrel ‘immediate’ EU embargo on

Italy’s industry minister has announced plans to The fiscal breakeven (the price at which the Russian oil and gas
raise the topic of nationalising a Lukoil-owned budget is in equilibrium) oil price for Azerbai-
refinery based in Sicily when the Italian Cabinet jan in 2022 will be $41.6 per barrel, and in 2023 An embargo on Russian oil and gas must be
meets on April 28. $51.8 per barrel, according to the April regional imposed immediately, the Lithuanian and Span-
A day earlier, German Economy Minister review of the International Monetary Fund ish foreign ministers said after their meeting in
Robert Habeck also said Germany is preparing (IMF) for the countries of the Middle East and Vilnius on April 28, reported LRT.lt, the website
to nationalise the Rosneft-owned PCK refinery Central Asia. of the Lithuanian national broadcaster LRT.
in Schwedt. As previously reported, the Ger- In 2021, this figure was $56.9 per barrel. In “For several weeks now, there has been a dis-
man authorities gave approval for the Russian addition, the IMF predicts that the external cussion on the need for an embargo on Russian
state-owned oil major to increase its ownership breakeven oil price for Azerbaijan in 2022 will oil and gas,” Lithuanian Foreign Minister Gabri-
of the Schwedt refinery to majority control the be $103.3 per barrel and $78.6 per barrel in 2023 elius Landsbergis told a joint news conference.
day before Russia invaded Ukraine at the end of ($69.5 per barrel in 2021). “Both Lithuania and Spain share the position
February. According to the IMF, oil production in that this must be done immediately.”
Germany said on April 27 that it had reduced Azerbaijan in 2022-2023 will amount to 0.69mn “Spain is fully committed to the defence of
its imports of Russian oil in the last months and barrels per day (bpd), which is the same as in our values and the defence of the eastern flank of
was now dependent on Russia for only 12% of 2021. Gas production in the country in 2022 will Nato. That is why we participate actively in the
its crude needs, down from 35% at the start of amount to 0.81 mn barrels of oil equivalent per Baltic air police operation with eight F-18 fight-
the war. day (in 2021 0.79 mn boepd) and in 2023 0.86 ers, based in Siauliai, which I will visit today,” said
A deal to import crude via Poland struck this mn boepd. Spanish Foreign Minister Jose Manuel Albares.
week means that Germany could end its depend- The IMF predicts that oil exports from Azer- “We both agree that we must keep up the
ence on Russian oil “within days,” according to baijan in 2022-2023 will amount to 0.56 mn bpd pressure,” he said. “The economic sanctions
Habeck per year (corresponding to 2021), gas in 2022 imposed by the international community are
The Italian and German refineries process 0.45 mn boepd (in 2021 0.43 mn boepd) and in already having an effect on Russia’s economy.”
Russian crude oil, and nationalisation could be 2023 0.49 mn boe. In the state budget of Azer- Asked whether he believes the EU will adopt
a step towards restricting Russian crude imports baijan for 2022, the price of oil is set at $50 per sanctions on Russian oil, Albares said that
into Europe. barrel. Madrid intends to support them.

P14 www. NEWSBASE .com Week 18 05•May•2021