Page 165 - RusRPTJun24

"Gazprom and our oil companies will certainly come to an agreement. There are different routes there. One of them is through Mongolia, and in one corridor it is possible to lay both a gas pipeline and an oil one. Experts must decide the best course of action. You can 'bribe' the tanker fleet and arrange [supplies] along the Northern Sea Route almost like through the pipeline. All options are possible. They are all acceptable and economically feasible. We need to choose the best one. I am sure that this work will also be completed," he said, answering a question about whether a general agreement had been reached on the Power of Siberia - 2 project.
Russia is a reliable supplier of hydrocarbons to Uzbekistan, President Vladimir Putin said after talks with his Uzbekistan’s counterpart Shavkat Mirziy/yev. The energy sector is "the strategic direction," Putin noted. "Our country is supplying the Uzbekistan’s economy with the hydrocarbon fuel reliably and on beneficial terms, thereby contributing to stable functioning of energy intensive sectors - agriculture, and public utilities," the Russian leader said. Daily gas supplies to Uzbekistan are up to 9mn cubic meters at present. Oil pumping from Russia totaled 154,300 metric tonnes in 2023. Russia is ready to boost gas supplies to Uzbekistan via Kazakhstan, Russian President Vladimir Putin said.
During the years of the war against Ukraine, revenues from the Russian Federation’s gas exports have decreased fourfold. The failed attempt to freeze Europe, which deprived Russia of a key natural gas sales market, has collapsed gas revenues in the Russian budget, say analysts from the Russian Gaidar Institute.
According to the first quarter’s results, only ₽114B ($1.22B) in gas export duties were delivered to the treasury. In annual terms, revenues from gas exports fell by 17%, or ₽24B ($256.8M), and if compared with the same period in 2022, they fell by 340%.
In general, the declining gas sales to European customers deprived the Russian Federation of 1.9% of ’its GDP. Russia's export revenues from gas approached the lowest value for six years. In turn, Naftogaz of Ukraine said that Russian gas is still arriving in Europe through Ukraine, but its volume is less than 5% of the total volume of supplies to the EU. Ukraine will not renew its transit contract, so countries like Austria and Slovakia must look for alternatives.
9.1.1d LNG news
European LNG prices rose to a five-month high as ongoing geopolitical risk factors and tightness in European LNG supply intensified competition with other global demand hubs, market sources said. Platts, part of S&P
165 RUSSIA Country Report June 2024 www.intellinews.com