On October 10, the Valdai Club hosted an expert discussion titled “Explosions at Nord Streams: The Geopolitics of Interrupted Energy Ties”.
The aggravation of relations between Russia and the West has led to an unprecedented crisis concerning the supply of Russian gas to the European Union. Large-scale sanctions have significantly hampered the maintenance of gas pipeline infrastructure, and the sabotage of the Nord Stream 1 and Nord Stream 2 pipelines has called into question the very possibility of deliveries along these routes in the foreseeable future. Taking into account a combination of political factors, the volume of gas exports from Russia to the EU will be significantly reduced. Both sides face the task of finding alternative partners. The EU needs reliable new suppliers of gas or other energy sources that could compensate for the deficit, and Russia needs new markets.
To what extent will there be a reduction in gas supplies from Russia to the EU in the coming months? Is the EU capable of compensating buyers for the lower volumes? What will be the reason for such compensation? What are the prospects for the reorientation of Russian gas supplies to Asian markets? What is the state of Russian projects in the field of liquefied gas production and is it possible to reorient pipeline supplies? Participants of the discussion tried to answer these and other questions.
Aleksey Grivach, Deputy General Director for Gas Problems of the National Energy Security Fund
Alexey Gromov, Chief Energy Director of the Institute of Energy and Finance
Evgeny Tipailov, Executive Director, Institute for Interdependence Studies