Page 132 - RusRPTApr21

some is exported as refined oil.
Last year, Russia exported about 240mn tons of crude oil tons (about 4.8mn barrels per day), which is 11% less than a year earlier. Oil exports are expected to return to growth gradually as global demand picks up.
About half of Russia's crude oil exports still go to EU countries. However, the EU's share of exports has fallen sharply as China's share has grown. China's share was already 28% in 2019.
Russia has long been one of the world’s largest producers and exporters of crude oil, along with Saudi Arabia and the United States. Russia's share of global oil production and exports has been 13–14% in recent years.
The economic downturn caused by the corona pandemic and last year's warm winter reduced the demand for natural gas in Russia's key export markets, ie EU countries.
Exports of traditional pipeline gas decreased by about 20bn m3 from the previous year and in 2020 were just under 200bn cubic meters.
Low demand dropped the price of gas in Europe very sharply, and the value of Russian gas exports fell by as much as 40% from the previous year. The contraction in export demand also led to a decline in natural gas production.
Last year, 600bn m3 of natural gas was produced, which is 7% less than a year earlier. By-product gas production remained at the previous year's level and was 96bn m3.
Liquefied natural gas (LNG) production, on the other hand, also increased slightly last year and exceeded €30mn. tons (about 42bn m3).
Russia's two LNG plants (Yamal and Sakhalin) are now operating at full capacity and a significant increase in production will require the completion of new plants. LNG production is entirely exported, which increased by 4.5% from the previous year. However, weak global demand also reduced liquefied gas prices and the value of LNG exports fell by 15%.
Despite the contraction in exports, 2020 was a significant year for pipeline gas exports, with the introduction of Russia's first eastern gas export pipeline. Named the Siberian Power, the pipeline will open a new export route for Russian gas exports to China. Last year, the volumes delivered through it were less than 5bn cubic meters, but as
132 RUSSIA Country Report April 2021 www.intellinews.com