The IEA predicted strengthening of Russia's position as gas exporter
Russia in the period up to the end of 2025 will be able to strengthen its position as the largest gas exporter in the world, according to a new annual report by the International energy Agency (IEA).
The IEA, in particular, mentioned plans "Gazprom" on development of the Yamal gas production center. So, by 2022 it is expected to reach the designed production level of 115 billion cubic meters per year on Bovanenkovskoye field. In addition, in 2023 it is planned to start production at Kharasaveyskoye field by raising the bar to 32 billion cubic meters a year by 2026. "Supply corridor "Bovanenkovo-Ukhta" should provide as domestic consumers and European export market", - said the Agency.
In addition, in 2023 and 2024 it is expected to launch the first two production lines of the project "Arctic LNG 2" the company "NOVATEK" and its foreign partners. And in 2025 the supply of "Gazprom" in China "Power of Siberia" should achieve the projected level of 38 billion cubic meters per year.
In General, says the IEA, primarily due to gas production in Russia production of "blue fuel" in Eurasia will increase by 1.8% annually in the period until the end of 2025 and reach of 1.03 trillion cubic meters in 2025. "Only Russia will have 70% of growth in the region as increasing the country's supply by pipeline to China, as well as LNG," the report reads.
The Agency predicts in 2020 the pandemic COVID-the 19th largest in the history of the fall in world demand for natural gas by 150 billion cubic meters, or 4%. Reduction in the consumption of blue fuel is expected in every sector and in every region, but most of the reduction will have on developed markets and on the electricity generation sector, said IEA.
The Agency expects that a large part of the lost in 2020 demand will be restored in 2021. Particularly strong growth in demand is expected in the Asia-Pacific region, including due to the fact that Asia-Pacific countries will benefit from attractive gas prices. The developed markets of Europe and North America will also be able to recover most of its losses in demand as industry and electric power industry will return to the need for gas. The positive effect will also have ongoing transition of many countries from coal generation to gas, the report said.