The West has pointed to the benefit to Russia from Norway's cutback in oil and gas supplies
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- The West has pointed to the benefit to Russia from Norway's cutback in oil and gas supplies
Thanks to the reduction of oil and gas supplies by Norway, a "dawn" for Russia is possible in the European oil and gas market. Andreas Schroeder, head of the energy analytics department of the ICIS analytical company, told The Telegraph newspaper on January 16.
According to the newspaper, citing data from the Norwegian Offshore Directorate (Norwegian Offshore Directorate, NOD), the reduction in Norway's oil and gas supplies due to the idea of the current Norwegian authorities to stop extracting resources creates prerequisites for closer cooperation between European countries and Russia.
"Sunset for Norway is dawn for Russia. <...> The call to open the pipes and gates to cheap Russian gas will grow louder over time as gas prices rise due to Norway's declining production. <...> This creates preconditions for closer cooperation with Russia and will embolden Russia-friendly politicians in countries such as Slovakia and Hungary," Schroeder said.
Earlier, December 18, 2024, it was reported that the share of gas imports from Russia to European countries has increased again, the country remains one of the largest suppliers of gas to Europe. It is noted that Europeans are currently paying more for energy, and some of the most energy-intensive industries are struggling to remain competitive.
On February 20 of the same year, Deputy Prime Minister Alexander Novak said during the plenary session "Leadership and Sustainability of the Russian Energy Industry" at the exhibition-forum "Russia" that the Russian energy industry has reached its maximum performance over the past 20 years. The industry occupies about 20% of GDP in the Russian economy. In addition, he specified that 10% of the world oil production comes to the Russian Federation, and about 2 thousand fields are being developed in the country. In addition, Russia is the second largest producer and exporter of natural gas in the world, as well as the fifth largest producer of coal.
