MOSCOW, October 27. /TASS/. Gas-exporting nations need to work on optimizing fuel supply routes to markets, Russian President Vladimir Putin said at the Gas Exporting Countries Forum (GECF) summit.
"The main problem today is the disruption of gas supplies. Large volumes of supply have dropped out of the market in a short period, while demand has remained unchanged. This means it is necessary to work on optimizing transport routes – taking into account the geographical locations of the Forum’s member countries – by utilizing reciprocal operations among them, that is, among us," he said.
According to the president, addressing the challenges facing the global gas industry requires building cooperation, not barriers, above all among gas-exporting nations. "This should be achieved by leveraging our own capabilities and sovereign technologies, while fostering open, trust-based collaboration rooted in the principles of mutual benefit and respect for one another’s interests," he emphasized.
Putin noted that the increasing flexibility and mobility of the modern gas market – driven by the widespread use of liquefied natural gas (LNG) – makes this possible. "After all, LNG shipments are not dependent on international pipelines. LNG already accounts for approximately half of global gas trade. I must stress that replacing lost volumes and restructuring logistics is no simple task. It is essential to maintain a balance between the interests of gas suppliers and consumers, and to fulfill existing contractual obligations," he explained.