Russia JUST ENDED Gas And Oil Exports To These Countries!

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Did you know that Russia has managed to redirect all its crude oil exports affected by Western sanctions over Ukraine to "friendly" countries?

The country has been able to redirect all its exports, even those affected by the embargo on seaborne Russian oil imports despite a decline in oil and gas output this year.

The West imposed these sanctions after Moscow sent its armed forces into Ukraine in February 2022. Russian Energy Minister Nikolay Shulginov shared the news at an energy forum, stating there was no sales decrease.

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Shulginov said that Russia's oil and gas production would decrease in 2023. This is because Western sanctions and a lack of European customers are causing issues for Moscow.

Gazprom Neft's CEO, Alexander Dyukov, also shared that 2023 would be tougher than 2022 and that the limitations would put more pressure on them. Shulginov mentioned that Russia is redirecting its oil and oil product exports from Europe to Asia, Africa, Latin America, and the Middle East.

In addition, India was the largest buyer of Russia's Urals grade crude oil in March. More than half of the seaborne Urals exports this month will be sent to India, followed by China. Alexander Novak, the Deputy Prime Minister, stated that Russian oil sales to India increased 22 times last year.

According to Novak, Russia's federal budget for 2022 relied heavily on energy revenues at 42%, which is higher than 36% in 2021. He added that the energy industry was still going strong, even with Western sanctions.

Novak suggested that Russia should concentrate on increasing its energy exports to its allies and work on developing insurance options to help with the trade. In addition, Russia is close to finalizing a pipeline agreement while also breaking new records for exporting gas to China.

Russia and China are almost ready to agree on starting the construction of a new pipeline, called Power of Siberia 2 or PoS2 in 2024. This pipeline will be about 6700 kilometers long and transport gas from West Siberia in Russia to areas north of Beijing in China, passing through Mongolia by 2030.

The pipeline's capacity is 50 billion cubic meters per year, which is almost the same as the Nord Stream 1 pipeline that delivered gas to the EU before being closed last September.

When PoS2 is built, it will double Russia's gas exports to China. This pipeline will also connect to Russia's gas network, which reaches the Yamal Peninsula in West Siberia. This means Russia can direct gas to the east or West as needed.

Putin met with Xi Jinping for three days in Moscow in March. They talked about the PoS2, and Putin said they'd figured everything out. They're planning to start building it in 2024. Putin also said that Russia will give China a lot of gas - at least 98 billion cubic meters a year - and a bunch of liquefied natural gas too.

Since 2006, Moscow and Beijing have discussed the possibility of a gas pipeline crossing Mongolia. However, they were unable to agree on a price for the gas. Russia was unwilling to redirect its lucrative European business to the East unless China offered a more attractive price.

So, to solve this issue, Gazprom developed the Nordstream 1 and 2 systems to increase the export of Yamal gas to Europe. Simultaneously, it began the state-run Eastern Gas Development Program in 2007 to target the Chinese market.

The program aimed to combine gas production, transportation, and supply systems that would combine resource bases in Eastern Siberia and the Far East. However, there is a need for PoS2 to contribute its potential 50 billion cubic meters outputsto aid Russia's pivot towards the east and achieve Putin's objective.

Mongolia's Prime Minister recently revealed that a feasibility study for PoS2 had been completed. However, the exact path of the pipeline is still being think about. The plan was to construct a pipeline that would pass through the Altai mountains and link gas fields in West Siberia to those in the oil-rich Xinjiang Uygur Autonomous Region in northwest China.

Nevertheless, China showed interest in an alternative route extending from Irkutsk via Mongolia to Beijing in September 2019.

And now, the experts say that Russia is exporting oil at the same levels as it did before the conflict. Russia had increased its oil exports to levels seen before it invaded Ukraine, despite Western sanctions. The International Energy Agency or IEA said that Moscow exported more crude oil and oil products in March than it has since April 2020, increasing by 600,000 barrels per day.







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