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Russia represents energy stability for its friends — Gazprom CEO

Demand for commodities is currently replacing demand for foreign exchange reserves, Alexey Miller said

ST. PETERSBURG, June 16. /TASS/. Russia is a supplier of energy stability for its friends, CEO of Gazprom Alexey Miller said at SPIEF-2022.

"Russia represents energy stability, and also Russia is a supplier of energy stability for its friends," he said.

Miller noted that global gas consumption for 5 months of 2022 decreased by 25 bln cubic meters, where 24 bln cubic meters fell on the EU countries. The EU’s plans to increase the production of biomethane by 17 bln cubic meters will require 60 years, since the existing plants produce only 3 bln cubic meters per year.

Demand for commodities is currently replacing demand for foreign exchange reserves, Miller said. Russia now has a window of opportunity in the redistribution of world energy resources for fair supplies.

The St. Petersburg International Economic Forum organized by the Roscongress Foundation is running from June 15 to 18. This year’s forum is dubbed: ‘New Opportunities in a New World’. The SME Forum, the Creative Business Forum, the Drug Security Forum, the SPIEF Junior Dialogue and SPIEF Sport Week are also going to be part of the SPIEF event. TASS serves as the event’s official photo hosting agency and the information partner.

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