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Gas supplies to neighboring countries will provide additional growth in Russian exports

Alexey Belogoryev's presentation showed that on current trends, Russian gas exports in 2030 will remain 14% below the 2021 level, but will grow 1.5-fold compared to 2023

YUZHNO-SAKHALINSK, October 4. /TASS/. Russian gas supplies to neighboring countries, primarily to Uzbekistan, Kazakhstan and Azerbaijan, can provide additional growth in Russian gas exports. All in all, by 2030 gas exports from Russia will grow around 1.5-fold compared to 2023, research director at the Institute of Energy and Finance Alexey Belogoryev said.

"All three countries can provide a large increase in exports from Russia if the relevant agreements are reached, especially if pricing issues are resolved," he said.

Belogoryev's presentation showed that on current trends, Russian gas exports in 2030 will remain 14% below the 2021 level, but will grow 1.5-fold compared to 2023. The expert noted that the greatest uncertainty regarding gas exports from Russia is associated with the prospects for liquefied natural gas (LNG) exports. According to Belogoryev, in the baseline scenario, large-volume LNG exports from Russia will double by 2030, which is significantly worse than previous forecasts.

In addition, the expert noted that there is a hidden supply deficit in the global LNG market this year. "This deficit would be quite noticeable if it were not for the decline in consumption in Europe," Belogoryev said, noting that Europe has significantly reduced LNG imports this year, but this decline has compensated for the increase in Asian countries. "The LNG market has frozen in the absence of large new capacities," the expert concluded.