In addition to the Indian and Chinese markets, Russia can sell its raw materials to related countries such as South Korea and Vietnam. About this FAN declaration Artem Deev, head of the analytics department of AMarkets.
“For Russia, the main oil markets in the Asia-Pacific region are China and India. But besides these countries, there are other countries interested in buying Russian raw materials – these are South Korea and Vietnam,” he said.
According to him, the share of these countries in total purchases is extremely small, but they have the potential to increase. It is also worth noting that Russia sells fuel at a significant discount, so the number of countries interested in buying oil and gas may be much larger.
He added that it will not be possible to quickly completely replace the supply volumes that have fallen due to the sanctions against Russia. On average, this process can take several years.
10 September, Nigerian Minister of State for Petroleum Timipre Silva during his speech at the Gastech 2022 international oil and gas conference in Milan, Italy declarationAgainst the background of the approaching winter in Europe, Nigeria wanted to increase the supply of reduced gas to the region. Nigeria delivered 23 billion cubic meters of reduced gas to Europe in 2021, according to an African radio station. At the same time, the country will now build a gas pipeline to Europe via Algeria.