Deputy Head of Gazprom Oleg Aksyutin identified three groups of factors contributing to the crisis
MOSCOW, March 20. /TASS/. One of the primary causes of the current global energy crisis is the escalation of geopolitical tensions and non-market competition by the United States for sales markets, Deputy Head of Gazprom Oleg Aksyutin said in an article published in the holding’s corporate magazine.
“The main event of recent years was the global energy crisis, which was accompanied by a record increase in energy prices, accelerated inflation, a decline in gas consumption and living standards in certain regions, as well as a return to the use of traditional energy (even coal) against the backdrop of the impossibility of achieving energy security using mainly renewable energy,” he added.
Aksyutin identified three groups of factors contributing to the crisis: mistakes in prioritizing the strategic development directions of a number of countries and large companies in the oil and gas industry, increased geopolitical tensions, and competition for sales markets.
The first group of factors includes the accelerated development of renewable energy sources (RES) without regard for energy security issues, underinvestment in the oil and gas industry, the cancellation of long-term contracts, and the transition to spot pricing in the gas market, he noted.
“The second category of reasons includes the imposition of various restrictions on the largest exporters, sabotage of infrastructure projects and other trade relations by unfriendly countries. The third group of circumstances includes the actions of the world’s largest exporter of liquefied natural gas (LNG), the United States, which has been constantly promoting conditions for replacing Russian pipeline gas in Europe with LNG supplies from its facilities,” he wrote in the article.
Gazprom’s development priorities
Gazprom is expanding its business by “focusing on tectonic shifts in the global energy sector, rather than fleeting changes in individual markets,” Aksyutin said.
The main growth areas of the holding include the domestic market (gasification of Russian regions, development of energy and industry, use of gas engine fuel), development of gas processing and gas chemistry, gas exports to consumers in a number of countries, and development of the LNG industry. Thus, due to gasification and additional gasification, the increase in demand on the domestic market by 2030 may be about 20 bln cubic meters, while the consumption of gas motor fuel in the long term may increase by 10 bln cubic meters.
Source: Tass
