Russia has proven to be one of the most reliable gas resources for Europe. Despite all the different views that we experience and the daily political discussions between Russia and Europe, the last winter, which was the coldest winter in Europe in 30 years, we would have never been able to manage without Russian gas.
It’s always very nice to talk about what we are against. However, that does not help us when we are industrialised countries and the winter is hard.
If the demand for Russian natural gas keeps growing at the same pace as we have seen over the past 18 months, the capacity of Nord Stream 2 will hardly be enough to meet the growing demand on the European market.
Long-term partnership is required for ensuring the security of supply and demand, and this is based on some sort of stability that could be provided by long-term contracts and by oil indexation.
Some people in Brussels think that diversification of sources alone leads to supply security. This will not work. The important element here is a combination of reliable access to reliable resources and reliable transit logistics and not some nationalistic interests of individuals abusing gas for national politics.
The very idea of spot is an attempt to break away from the dependence on oil prices. Yet, if we look at the correlation of prices on the spot market, we can see that they ultimately take their cue from changes in oil and refined oil price quotes.
When it comes to which projects in Europe or other countries are the most profitable and effective, gas mains are fundamental, running from our gas production centres across the Russian Federation. It is on this premise that we are building our gas transport strategy.
The Asian gas market is currently the most dynamic and fastest-growing in the world, and the most future-orientated market as well. The Indian market should be emphasized too; however, the Chinese market is currently the top priority.
In partnership with Ulmart
In partnership with Egorov Puginsky Afanasiev & Partners
In partnership with P&G