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Russia has potential of increasing oil and gas export to Asia-Pacific countries by 2035

Growing demand on the soaring Asia-Pacific market creates an opportunity of increasing Russia’s oil export by 1.8-2.2 times and the natural gas export by 8-9 times in this destination by 2035

© AP Photo/Matthew Brown, File

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MOSCOW, September 16. /TASS/. Russia has a potential of doubling its oil export to Asia-Pacific nations by 2035, the draft 2035 Energy Strategy prepared by the Ministry of Energy [available with TASS] said.

"Growing demand on the soaring Asia-Pacific market creates an opportunity of increasing Russia’s oil export by 1.8-2.2 times and the natural gas export by 8-9 times in this destination by 2035," the document said.

"This opens new opportunities for the Russian fuel and energy sector but requires huge investments into development of the relevant energy transport infrastructure," the document said.

At the same time, many-fold decline of the demand for Russian fuel oil is expected on the European market. This niche will remain small on the Asia-Pacific market.

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Oil & Gas Asia Pacific

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