Putin has problems. Gas expansion at risk

Even an autocrat like the Russian president cannot avoid the official creed, “De Standard” commented on the last speech. Putin On state television, he explained the country’s energy policy for the coming years.

“A poker-faced Putin announced on Thursday that Russia will significantly increase gas exports to new emerging markets – especially eastern China,” the newspaper said. The Russian president listed plans to build a new center for gas exports in the south, negotiations with Turkey on the matter, and the launch of a new gas pipeline to the east. The latter will double gas exports to China to 88 billion cubic meters per year by 2030.

“If you listen carefully to Putin, you will soon notice that the Russian leader has a bigger gas problem than he is willing to officially admit,” the daily writes and points out that construction of a new pipeline to China is not expected to begin. 2024 and will take many years.

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In addition, the investment will be difficult due to the fact that Russian engineers will have to do without technologically advanced parts from the West. “De Standard” recalled that their meaning became clear this year, when German Siemens Nord Stream gas turbine stuck in Canada After repair.

“The fact is that for many years Russia could only use the existing gas pipeline to China, which has limited capacity,” the newspaper said. In the long term, the loss of billions in gas revenue from Europe will leave a huge hole in the Russian budget until 2030.

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“Until the Kremlin gets a lifeline from Asia, the shuttered Russian economy may languish for a long time. But at what cost?” – asks and evaluates the magazine Beijing will not only impose its financial demands but also become politically dependent on Russia.

A “gas weapon” exploded in Putin’s face – concludes “de Standard”.

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