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Russia has been building an energy market in Europe for 50 years, which Putin destroyed in 50 weeks - Bloomberg
News Censor.
Putin
https://censor.net/ua/news/3396460/rosiya_50_rokiv_buduvala_v_yevropi_energetychnyyi_rynok_yakyyi_putin_znyschyv_za_50_tyjniv_bloomberg
29.01.23 20:45
Russia has been building its energy market in Europe for almost 50 years, and President Putin destroyed it in less than 50 weeks. It will be almost impossible to find a replacement.
This is stated in the material of the Bloomberg publication,
“While Russia has found alternative markets for its crude oil, mostly in India, the transition to selling refined products and possibly even more natural gas will take years and cost huge costs. This is if at all possible to create markets when the world refuses fossil fuels,” the article says “Russia cannot replace the energy market that Putin destroyed.”
It is also noted that with the beginning of Russia’s large-scale military invasion of Ukraine on February 24 last year, gradually the European market, which absorbed almost 2.5 million barrels of oil per day, and 1 million barrels of petroleum products and 155 billion cubic meters of natural gas per year, almost disappeared for the Russian Federation.
Read also on “ Censor.No”: Italy may completely abandon Russian gas by 2025
“Putin’s war in Ukraine has cost Russia the European energy market. It won’t be easy to replace it. Whatever rapprochement Moscow and Europe eventually achieve, the Russians will calculate the price of war for generations to come.
It is noted that a huge network of gas fields and pipelines, the creation of which cost hundreds of billions of dollars since the first gas crossed the Austrian border in 1968, was thrown into the trash.
According to the publication, huge pipelines thousands of kilometers long connected gas fields, first in Siberia, and then on half the island of Yamal, with buyers in Europe. In 2017, it was estimated that ям 100 billion was invested in the development of gas reserves in Yamal alone. This figure was expected to double by 2025. Most of these investments now look redundant.
The power of Siberia gas pipeline, according to Bloomberg, transports fuel to China. But this gas comes from new fields south of the Yamal fields. Russian state-owned gas giant Gazprom has estimated the official cost of this pipeline and related gas fields at 5 55 billion.
“An independent assessment, according to experts, showed almost twice the figure - the investment, as they claim, will never bring profit,” the agency stressed.
In addition, it is not known how much more Russian gas China will buy. Although its energy needs are huge, it will beware of repeating the mistakes that some European countries have made by becoming too dependent on Moscow, according to market experts.
Read also on “ Censor.No”: the energy crisis of 2022 was a turning point in relations between the EU and Russia, Putin’s Bet did not work, - Borrel
Russia, as Bloomberg suggests, will seek to provide for India, another fast-growing country with huge energy needs.
“But transporting natural gas to India will be even more difficult than delivering it to China. The route will cross the highest mountains in the world or pass through Afghanistan and Pakistan. Any route will cross several other countries, which will make construction and operation more expensive than communication between two states with common borders,” the publication notes. Source: https://censor.net/ua/n3396460
. Italy may completely abandon Russian gas by 2025
News Censor.No
https://censor.net/ua/news/3395112/italiya_moje_povnistyu_vidmovytysya_vid_rosiyiskogo_gazu_do_2025_roku
23.01.23 14:01 707 3
Italy may completely abandon Russian gas in 2025 due to supplies from Algeria.
As the censor reports.No, with reference to the EP, This was stated by the general director of the largest Italian oil and gas company Eni Claudio Descalzi.
According to him, Algeria annually increases gas supplies to Italy. In particular, in 2021, Italy received 21 billion cubic meters of gas, and in 2022 – 25 billion, and in 2023 it plans to receive 28 billion cubic meters of gas.
“Forecast for the refusal of Russian gas supplies to Italy? I am positive that in the winter of 2024/2025, I would say that if this goes on, things will go in the right direction,” Descalzi said