Russia will be able to afford to choose a gas buyer after the implementation of the project “Power of Siberia-2”. It threatens Europe’s energy security and increase the possibilities of Moscow in world energy markets, they wrote RIA Novosti with reference to an article from British The Telegraph.
The new gas pipeline must connect the deposits on Yamal with consumers in China, which will be beneficial for both sides and is a certain danger to Europe. “Although Moscow has enough resources to meet the demand in both markets, it can give preference to the buyer who will pay for the gas a big price,” said ICIS analyst Tomash Marges-Mercer.
Without the “strength of Siberia-2”, European countries are the main consumers of Russian gas from Yamal. Blue fuel from deposits in Eastern Siberia is supplied to China. The power of the existing gas pipeline to China is 38 billion cubic meters of gas per year. “Siberian Power” should add more than 50 billion cubic meters in Asia.
In the fall, in the fall of 2021, the global market collided with high gas prices. Due to the European Union’s energy policy and the “green” sources of energy, the cost of thousands of cubic meters of fossil fuels beat historical records, which unpleasantly affected those countries that did not have contracts on solid supplies prices. Analysts converge in the predictions of gas prices in the world market in the long run.
Earlier, the financier of Artem Tuzov revealed the effect of expensive gas for the euro and ruble. In his opinion, a short-term price increase has a speculative impact on exchange rates.