On the transfer of Russian oil and gas exports from Europe to Asia

Kuzovkin A.I.
,
Stakun A.V.
ECONOMY OF FUEL AND ENERGY COMPLEX
#4. 2023
Keywords:
export of energy resources
,
oil and gas prices
,
demand for energy resources

DOI: 10.33917/mic-4.111.2023.69-72

An analysis is given of significant changes in the export of energy resources from Russia, taking into account the global economic recession and the warm winter in Europe in comparison with 2022. It is noted that in 2023 there was a sharp change in the export flows of oil and gas from Europe to Asia (China and India), after the introduction of the EU price ceiling for Russian oil. Europe has switched to coal for power plants and buying more expensive LNG from the US instead of Russian gas.

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References: 

1. Novak A. Energy policy of Russia: turn to the East // Energy policy, June 08, 2023. URL: https://energypolicy.ru/energeticheskaya-politika-rossii-razvorot-na-vostok/business/2023/14/08 /

2. Oil market, OPEC+, new markets and gasification // Neftegaz.RU. URL: https://neftegaz.ru/news/transport-and-storage/780860-neftyanoy-rynok-opek-novye-rynki-i-gazifikatsiya-a-novak-oboznachil-energeticheskie-perspektivy-ross/

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