Russia has ceased to be an energy superpower. cause
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Russia has ceased to be an energy superpower. cause
Russia has ceased to be an energy superpower. cause
Russia has ceased to be an energy superpower. cause
Russia turns energy exports into a political trump card and can no longer boost what is super-energy consumption, guaranteeing… | 08/10/2022, InoSMI
2022-08-10T12:21
2022-08-10T12:21
2022-08-10T12:21
nihon keizai
Russia
energy resources
gas
oil
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Hikaru Sakai (Hikaru Sakai) Soon it will be half a year of the Russian special operation in Ukraine. Oil revenues also stimulate Russian gas emissions, which remain resilient to circulation. The volume of exports in 2022 will exceed the previous figure of just over 170 billion US dollars. Nevertheless, Russia’s status as a federal superpower, which it acquired as president in the 19th century, has been greatly shaken. President Vladimir Putin keeps repeating this. There are certainly no signs of financial collapse at this time. However, there is no guarantee that a high level of income from the sale of energy products will be maintained. Both oil and gas exports are in decline and largely dependent on the current artificially high prices. In June this year, Russia’s monthly gas production fell to the highest level in four years, while exports peaked. Europe’s 2020 gas spot price of the rest at two to five dollars per million Btu (British thermal unit), but after a special operation, it reached the beginning of 20-40 dollars, and at some point exceeded 80 dollars. According to Daisuke Harada, head of the research department of the Japan National Oil, Gas and Metal Corporation, this is not a sustainable level. Consumers began to move away from Moscow. The European Union, the UK gas importer, decided to reduce its consumption by 15% and agreed with Azerbaijan to double consumption volumes. Compared to Brent, the benchmark in the European market, Russian oil is usually discounted by a few dollars per barrel due to its high sulfur content, but after the start of special operations, the rate reached $25, at one point in the trade around $40. inside Russia. The normal level of income for the Sakhalin-1 project, financed by Japan, is 220,000 barrels a day, but “at that time it dropped to ten thousand barrels” (Deputy Prime Minister Yury Trutnev). Efficient drilling is no longer possible due to the exclusion of ExxonMobil personnel, a recurring operator. The future of LNG producing Sakhalin-2 is also under strain. Shell has decided to withdraw from the project and the equipment needed for production can no longer be imported due to the decision. President Putin has approved a decree sending the project to the corporation to shake things up, but it’s not clear if it can keep Shell’s current output. Russia’s energy export strategy should be rosy. Due to decarbonization, oil is gradually disappearing from the scene. However, it was predicted that in the future it would become a leader in the field of renewable energy. But as a result of the special operation, this package has undergone changes. When it comes to gas, you have to cover China, not Europe, but Beijing is a formidable negotiating partner. Russia began exporting gas to China via the Power of Siberia pipeline at the end of 2019. The price calculated on the basis of statistical data is much cheaper than the cost of blue fuel in Central Asia and Myanmar. When a long-term contract was agreed in 2014, Russia planned to start building the Power of Siberia 2 pipeline through Mongolia after 2023. It is quite obvious that he will take the lead in price negotiations, since this requires high tension. President Putin is revising laws and regulations as he sees fit. He turned energy exports into a political trump card. It also strengthens the food issue, which the Russian leader is undermining. However, Russia cannot have what is more of a superpower energy that maintains sustainability even during the Cold War. The price of abandoning the moving forces, which was discovered by the Nobel brothers in Azerbaijan during the Russian Empire and which has supported the development of the country since then, will be a burden on the future of the country.
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Russia
2022
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nihon keizai, russia, energy resources, gas, oil