Russia Reorientating Energy Exports to APAC

Russia is reorientating its energy exports to Asia-Pacific Deputy Energy Minister Sergey Mochalnikov told TASS.

• "We are actively reorienting our energy exports and potential to the east, so additional volumes of oil are already being supplied, new gas supply routes via pipelines are being discussed,” he said.
• Mochalnikov said that the strong growth and healthy demand in Asian countries was helping new markets to emerge for energy exports in the region.
• However, Russia has also been left looking for new markets as its products have increasingly come under Western Sanctions.
• It has become China’s largest oil importer, while India imported 1.76mbpd of Russian oil from April to September – the first half of fiscal 2023/24 – more than double compared with the same period last year.
• The EU has banned seaborne imports of Russian oil in February, while most European countries refuse to buy Russianspot LNG volumes, although continue to receive contractual volumes.