Russia to ensure 12.5 % of world oil and 35 % of world gas deliveries

Oct 28, 2004 02:00 AM

This year Russia will provide for 12.5 % of all primary oil and 35 % of natural gas deliveries to the world market, deputy head of Russia's Federal Energy Agency Oleg Gordeyev told the 4th All-Russian Week of Oil and Gas.
"The EU countries are the main market for the sale of Russian energy products," Oleg Gordeyev said. According to him, oil makes up 61 %, natural gas 24 %, petroleum products 12 % and condensate and liquefied gas 3 % of the export of Russian energy products to Europe.

"The EU has two external sources of hydrocarbons -- the OPEC countries and the CIS. OPEC deliveries to Europe slightly exceed CIS supplies. However, the CIS share exceeds the share of OPEC countries on the European oil and gas market due to larger deliveries of gas and petroleum products," Oleg Gordeyev said.
CIS countries account for 53.8 % of oil, gas and petroleum product supplies to Europe (Russia, 45.1 %; Azerbaijan, 1.4 % and Kazakhstan, 7.3 %) and the OPEC countries account for 46.1 %. Russia accounts for 84 % of all CIS deliveries and this share will not decrease, Oleg Gordeyev says.

Russia has the possibility to expand considerably the amount of energy product exports to Asian countries, the deputy head of the Federal Energy Agency said. He noted that it was necessary to meet two conditions: "to increase the volume of geological prospecting and the commissioning of hydrocarbon deposits in Eastern Siberia and the Far East and develop the network of oil and gas transportation to sales markets."
According to him, these conditions could be met in the event of attracting sufficient investments.
"Investment in the exploration and development of deposits in Eastern Siberia and the Sakhalin shelf have been the first joint projects of energy companies from Europe and Asia and next on the agenda are joint projects in the field of oil and gas transportation," Oleg Gordeyev said.

According to him, the capacity of the Asian market of energy products almost equals that of the European market. Russian energy product exports to Asia have been quickly growing recently. However, Russia is still playing a much more modest role on the Asian market than in Europe, the deputy head of Russia's Federal Energy Agency said. He gave the example of Russian oil deliveries to China.
"In September, Russia supplied about 1.9 mm tons of oil to China and topped the list of oil suppliers to that country. However, in the nine months of the year, Saudi Arabia was a leading supplier of oil to China.”

Oleg Gordeyev further said that Russia was creating energy product transportation systems to unite the energy markets of Europe and Asia in the future.
"The most important projects include the Taishet-Nakhodka trunk oil pipeline, the system of gas pipelines to deliver gas from the Kovykta deposit to China and South Korea and the construction of ports for the export of LNG from Russia. No less impressive projects are in the pipeline," Oleg Gordeyev said.
He added that the transformation of ZarubezhNeft into a public company was expected to be completed by the end of this year.

Source: RIA Novosti
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