According to official information from Moscow, Russia will supply about 50 billion cubic meters less gas to Europe this year than last year. “According to the current estimates of the Ministry of Energy, exports will decrease by about 50 billion cubic meters,” Energy Minister Alexander Valentinovich Nowak said on Thursday.
According to Interfax news agency, Nowak, who is currently in the Uzbek city of Samarkand, accused the European Union of trying to undermine the market. However, he believes that the gas price cannot be influenced by the introduction of a profit tax.
New pipeline to China planned
There, Nowak also explained how he wants to compensate for the missing supplies to Europe: Russia is planning to sign a contract for the construction of a new pipeline to China.
“We expect to reach a final agreement on the ‘Force of Siberia’ shortly. The volume is about 50 billion cubic meters,” Nowak said on the sidelines of the Shanghai Cooperation Organization (SCO) summit in Uzbekistan.
The pipeline “Power of Siberia 2” has been in the planning stage since September 2020. It was initially supposed to lead through the Altai Mountains and connect the region around Novosibirsk to China, but was rejected again due to high construction costs. A course through Mongolia is currently under investigation. The pipeline is intended to bring gas from the deposits in Eastern Siberia to the neighboring country.
Source: Krone
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