Figure of the day: Russia will be able to restore the volume of gas exports not earlier than in 10 years

A rather pessimistic forecast was made in their quarterly review by analysts from the International Energy Agency (IEA), stating that it would take Russia at least 10 years to increase gas supplies to Asian markets to a level comparable to the export volume received by the European Union back in 2021.

The Gas Market Report says that the development of the Russian gas sector will be constrained by sanctions, limiting access to major global markets and critical energy technologies. Due to these reasons, including the reduction in the commissioning of new fields, gas production in Russia will decrease to 668 billion cubic meters. m in 2022 (12% less than in 2021)

Experts predict that the development of gas fields in Yamal and Western Siberia will suffer the most, while in Eastern Siberia they will be more stable due to their proximity to China.

That is why in a decade Russia will be able to increase gas supplies to Asian markets, at best, to a level close to exports to the EU countries in 2021 (155 billion cubic meters), the review says.

In addition, global demand for gas in 2022 as a whole will decrease by 0.5% (to 4.083 trillion cubic meters) against the backdrop of high prices and a lack of supply of this energy carrier, aggravated in connection with the "special operation" in Ukraine.

Recall that recently the world's leading economic agency Bloomberg called natural gas "the driving force behind the" new Cold War".

Experts from the Center for Energy and Clean Air Research (CREA), in turn, also cite data from which it follows that the world is actively refusing Russian fuel.