Russia will rely more on Chinese demand for gas

Significance

Modestly increased gas exports to China have offset only a fraction of the lost business in Europe. The United States last year imposed sanctions on the flagship Arctic-2 LNG project that is central to Moscow's hopes of becoming a leading LNG supplier. Russia’s position as the world’s leading exporter of natural gas is under threat.

Impacts

• China, India and Turkey will account for most of Russia’s oil exports.
• Along with South Korea, China, India and Turkey will also account for most of Russia’s coal exports.
• China will be the only viable alternative to Western suppliers of vital technologies used in extraction and processing of hydrocarbons.