For the projects in the west, near Saint Petersburg, Europe is the natural market. This LNG comes from projects in the north (Yamal) and west (Vysotsk and Portovaya). Russia also sells around 20 bcm of LNG to Europe. Once the Power of Siberia pipeline reaches its capacity, Russia could be delivering nearly 60 bcm to China (assuming existing LNG flows to Asia remain). Russia also delivered 10 bcm to China through the Power of Siberia pipeline, which was launched in late 2019 and will eventually flow 38 bcm a year. Two-thirds of the gas that Russia sent to Asia came in the form of liquefied natural gas (LNG): 14 bcm from the Sakhalin-2 project, going to Japan, Korea, Taiwan, and China, and 8.5 bcm from Yamal LNG, serving mostly China, but also Japan, Korea, Taiwan, and India (smaller volumes went to Bangladesh, Indonesia, and Singapore). In 2021, Russia sold around 33 billion cubic meters (bcm) of gas to Asia, compared to a European market that typically imports 160 to 200 bcm from Russia. The Asian pivot can only deliver so much. But that business cannot replace what Russia had in Europe. Russia can turn to Asia and, over time, sell sizable gas volumes there. Russia comes late to Asian gas, and its resources are too far removed from it. Russia was an early player in the European gas industry and its role grew as the market expanded. In volume terms, Asia could maybe match Europe one day as a market for Russian gas, but as a source of income and geopolitical heft, Asia will be a second-best alternative. Russia could eventually build a sizable business geared toward Asian markets, but the shift will be neither immediate nor easy, and it will depend critically on foreign partners, including China. Russia only started to supply gas to Asia in 2009, and the European market remains far bigger and far more lucrative. Responding to Egregious Human Rights AbusesĮurope’s desire to diversify from Russian natural gas is pushing Russia to look for new markets.Building Sustainable and Inclusive Democracy.Family Planning, Maternal and Child Health, and Immunizations.Energy, Climate Change, and Environmental Impacts.Weapons of Mass Destruction Proliferation.Defense Industry, Acquisition, and Innovation.Intelligence, Surveillance, and Privacy.
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