The Daily Populous Thursday June 6th, 2024 morning edition
Authored by agenzianova.com and submitted by Silly-avocatoe

The Russian energy company Gazprom It is unlikely that it will be able to recover the natural gas sales volumes lost following the invasion of Ukraine within a decade. This was reported in a report commissioned by Gazprom itself and taken up by the British newspaper "Financial Times". The company's exports to Europe will average between 50 and 75 billion cubic meters per year by 2035, just a third of pre-war levels, according to estimates from the Russian energy giant. Although Gazprom hopes that building a new gas pipeline to China – Power of Siberia-2 – will help offset lost European export volumes, its capacity will be only 50 billion cubic meters per year and prices fixed with Beijing they are much lower than those with European countries, as the company's experts note in the report. An agreement on the construction of the connecting infrastructure with China, which should pass through Mongolia, has yet to be reached, Gazprom adds.

“The main consequences of the sanctions for Gazprom and the energy industry are the contraction of export volumes, which will be restored to the 2020 level no earlier than 2035,” the authors of the document wrote. The 151-page report, commissioned by company management and compiled late last year, is among the most candid acknowledgments yet of how Western sanctions imposed in response to Russia's war have damaged Gazprom and the broader Russian energy sector, according to the “Financial Times”.

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Haunting_Birthday135 on June 5th, 2024 at 18:17 UTC »

Many things can happen within a decade that will cut back on demand for oil and gas, including a global economic downturn and breakthroughs in renewables; they might not return to the former sales volumes ever.

fromouterspace1 on June 5th, 2024 at 18:06 UTC »

Good. Fuck em

WhatsRatingsPrecious on June 5th, 2024 at 18:00 UTC »

And that's if we stop now.

Which we won't.