On April 5, the Valdai Club will host an expert discussion, titled “Gas for Rubles: Buy It If You Can”.
The aggravation of the Ukrainian crisis, has soured Russia’s relations with Western countries, sharply increased the level of uncertainty in the world energy market. The main drama is unfolding around the supply of Russian gas to Europe. Apparently, Brussels has adopted a long-term plan of ousting Russian fuel from its market. It was further aggravated by the freezing of the Nord Stream 2 project, sanctions against the financial, energy and other sectors of the Russian economy, the ban on Russian fossil fuels in the United States, as well as Moscow’s demand to pay for gas in rubles. The new procedure for paying for Russian gas comes into force on April 1.
The EU countries are preparing for extreme scenarios in the event that supplies from Russia are blocked. Supply diversification will require huge investments in infrastructure. It will simply be impossible to replace Russian gas in the near future. This means that the aggravation of the political crisis may well lead to an acute shortage of fuel.
How quickly can the EU push Russian energy out of its fuel balance? What is the difference between this policy towards oil and gas? Who will be able to provide the EU with additional volumes of gas, and on what terms? What are the EU’s plans and possible strategies for resolving the gas issue? What should Russia do with the volumes of gas that can be displaced by other suppliers? What are the prospects for the reorientation to other markets? Participants in the expert discussion will address these and other questions.
- Alexander Losev, Director General, Sputnik Asset Management, member of the Council for Foreign and Defence Policy (SVOP)
- Alexey Gromov, Chief Energy Director of the Institute of Energy and Finance
- Fu Chengyu, Dean of Carbon Neutrality, International Academy
- Abbas Maleki, professor on Energy Policyб Sharif University in Tehran; former Deputy Foreign Minister; Former President of Institute for Politics and International Studies (IPIS)
- Nikolay Tsvyatkov, Associate Professor, Institute of Legal, Political and Sociological Research, Academy of Sciences of Moldova (2010-2020)