Moscow asserts EU wont smother gas proceeds
Date
12/14/2023 7:16:29 AM
(MENAFN) Russian Foreign Ministry spokeswoman Maria Zakharova has dismissed the European Union's plans to grant its member states the authority to individually block imports of Russian gas. Zakharova, speaking at a news briefing, characterized the move as a "pseudo-legal scheme" aimed at undermining Russia's economy, asserting that such measures have historically backfired on their initiators. The European Union's proposed legislation, revealed earlier this month, would empower member states to restrict or entirely block gas imports from Russia and Belarus, potentially disrupting existing energy partnerships.
Zakharova emphasized that the anticipated measure would likely prompt Russia to swiftly redirect its gas supplies towards emerging markets. She pointed out that the global energy supply, including liquefied natural gas (LNG), is constrained, while demand in the Asia-Pacific region is experiencing rapid growth. The spokeswoman contended that the proposed discriminatory action would be counterproductive and lead to the reorientation of Russian gas supplies to alternative markets.
Highlighting Russia's commitment to LNG projects, Zakharova revealed plans to increase annual LNG production from the current 33 million tons to an ambitious 100 million tons per year. She underscored the significant investment in the sector, exceeding 6 trillion rubles (USD66 billion), and emphasized the priority placed on developing the necessary infrastructure.
As the European Union contemplates measures targeting Russian gas imports, Moscow signals its resilience and commitment to expanding its presence in the LNG sector. The diplomatic exchange underscores the complexities of the energy landscape and the strategic considerations of both Russia and the European Union in navigating the evolving dynamics of the global energy market.
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