The expert named the advantages of Russian gas on the world market

Russian gas retains its competitive advantages in the global market, despite the sanctions pressure. China and Central Asian countries have become the main export destinations, and supplies may increase significantly in the future. Igor Yushkov, an expert and lecturer at the Financial University under the Government of the Russian Federation, told Izvestia on May 12.

Earlier it was reported that Deputy Prime Minister Alexander Novak predicted Russia's leadership in the Asian oil and gas markets by 2050. According to him, the development of infrastructure to increase the economic efficiency of oil supplies will allow Russia to become No. 1 in the Asian oil market by 2050 and fully meet the needs of the industry with a fleet.

"If we are talking about gas, then China is the most promising market. Now it is already the largest buyer of Russian oil, and in 2025 we have to supply 38 billion cubic meters of gas there," Yushkov said.

According to him, Turkey and Belarus are following China, but the volume of supplies to these countries is much smaller. The Power of Siberia — 2 project, which will add 50 billion cubic meters of gas per year, may become a key driver of export growth. However, as the expert emphasizes, the implementation of the project will take time.

"If the contract is signed now, the first gas will go only in five years. And reaching full capacity will take several more years. So a real increase in supplies is possible only by 2030," the specialist explained.

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Another promising export destination may be Central Asia, where demand for gas is growing and domestic reserves are declining.

"Uzbekistan and Kazakhstan can increase purchases. In 5-10 years, the total volume of supplies to this region may reach 10-15 billion cubic meters. m," the expert explained.

As for liquefied natural gas (LNG), the situation is more complicated due to sanctions. However, Russia is ready to increase production if there are buyers willing to ignore the restrictions.

"We can offer competitive prices. Before the sanctions, Russian gas beat American gas in the European market. We have a lower carbon footprint and production costs," Yushkov stressed.

In addition, the United States spends significantly more resources on LNG transportation, which makes Russian gas more economically profitable. However, further export expansion depends on the willingness of the buying countries to cooperate with Russia, despite political pressure.

Earlier, on May 9, it was reported that Russia and China had made progress in discussing the Power of Siberia–2 gas pipeline project. It is specified that instructions were given to speed up the process of agreeing on the final terms of the contract.

Prior to that, Russian President Vladimir Putin announced at talks with Xi Jinping on January 21 that Russia ranks first in natural gas and oil supplies to China, and China is the largest consumer of Russian energy resources.