Russian Deputy Prime Minister Novak stated that the road map for the project to establish a natural gas center in Turkiye will be approved soon and said, “We hope that the project will be implemented in 2024.”
Russian Deputy Prime Minister Aleksandr Novak made evaluations about the developments in the energy sector in his interview with Russian state channel Rossiya 24.
Stating that some developments in Europe have significant effects on the energy sector, Novak said, “We see that natural gas consumption in Europe has decreased by more than 100 billion cubic meters since 2021. Consumption is expected to decrease from 609 billion cubic meters in 2021 to 490 billion cubic meters this year.”
Novak emphasized that the decrease in question indicates that natural gas-consuming industries such as fertilizer, chemistry and metallurgy in Europe have reduced production, and said, “It also means that companies are going to markets where energy resources are cheaper, such as the USA.”
9 trillion rubles come from oil and natural gas
Noting that the Russian energy sector continues to operate stably and contributes to the budget, Novak said, “According to the estimates of the Russian Ministry of Finance, oil and natural gas revenues will be approximately 9 trillion rubles (approximately $98 billion) this year, which is close to the 2021 level.”
Stating that global oil prices have followed a largely stable course this year, Novak said that the barrel price of Brent oil may fluctuate between $80 and $85 next year.
Novak, who also made evaluations about the natural gas center planned to be established in Turkiye, used the following statements:
“We agreed with our partners to prepare a suitable road map, which will be approved soon. We will start the implementation of the project within the framework of the said road map. Our Turkish partners will visit St. Petersburg soon to learn about our experiences. They will visit St. Petersburg and I am sure that this will be useful for establishing an electronic platform and center in Turkiye. We hope that the project will begin to come to life in 2024.”
Speaking about Arctic LNG 2, one of Russia’s largest liquefied natural gas (LNG) projects, which was included in the sanctions list of the USA, Novak stated that the shipment in the project will start in the first quarter of 2024.
Source: AA / Prepared by Irem Yildiz