Russian gas exports to Europe decrease
Official data shows that Russian gas to the EU has fallen by more than 26% in the past five months compared with the same period last year.
Russian energy giant Gazprom said on April 15 that gas exports to Europe and Turkey decreased by 26.4% in the period November 1 to April 15 compared with the same period in 2021. European storage is also the lowest in many years.
The European Union (EU) is aiming to reduce its gas dependence on Russia by 70% this year, following its military campaign in Ukraine. Germany alone opposes a complete boycott.
“Completely replacing Russian oil and gas in the next 5-10 years is not possible,” Russian Deputy Prime Minister Alexander Novak said in an article in Russia’s Energy Policy magazine yesterday.
Meanwhile, the gap between Russia’s Urals and Brent is also widening. The average price of Urals for the period March 15 – April 15 was $ 79.81 a barrel. Meanwhile, this price of Brent is 108.5 USD, according to the data of the Russian Ministry of Finance.
This difference is usually only about 1-2 USD, but has increased sharply due to sanctions on Russia, according to Interfax. Although Russian oil is not sanctioned by the West, buyers are still hesitant.
Crude oil is still the main source of revenue for Russia. The country’s budget is estimated on the basis of the Urals oil price of 40 USD per barrel.
EU foreign policy chief Josep Borrell said that in 2021, the EU will pay Russia $80 billion (€74 billion) for oil and $20 billion for gas. The EU is discussing new sanctions policies with Russia, which will include an oil and gas embargo. However, these measures will take “several months”.
Ha Thu (according to AFP)
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