Novak: where the EU will take fuel to replace Russian is unknown

Deputy Prime Minister of the Russian Federation Alexander Novak said that Russia provided more than 20% of oil supplies to Europe and almost 40-50% of gas supplies. It is not known where the EU will get the missing volumes of fuel, he said.

“Russia has always been a reliable supplier. We occupied more than 20% of the market in the supply of oil, almost 40-50% in the supply of gas resources. And where today our colleagues, our European partners will take the missing resources – there is no answer to this question, ”Mr. Novak said at a session as part of the Russian Energy Week (TASS).

He said that Russia will continue to supply oil through pipelines to Europe to those consumers who are interested in this. The Russian Deputy Prime Minister recalled that there is currently no embargo on pipeline transport. According to him, Moscow will expand its capacity and diversify oil exports in response to EU decisions to ban offshore deliveries of Russian oil.

Alexander Novak also said that in 2023 Russia plans to produce oil at the level of 490 million tons. Gas deliveries via the Power of Siberia gas pipeline to China next year are planned at the level of 22 billion cubic meters. m.

5 October European Union agreed the eighth package of sanctions against Russia. It included a ban on the transportation of Russian oil to third countries at a price higher than the established one. Russian President Vladimir Putin declaredthat Russia will not supply energy resources to countries that limit their prices. As I wrote The New York Timesin the short term, the EU countries intend to replace Russian gas with LNG supplies from the United States, Qatar and Azerbaijan.

Read more about the new EU sanctions – in the material “Kommersant” “There is no ship for oil”.

Daria Erozbek