The future of Russian gas exports to East Asia: Feasibility and market implications |
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Authors: | Rafael Fernández Enrique Palazuelos |
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Institution: | Complutense Institute of International Studies and Department of Applied Economics, Complutense University of Madrid, Spain |
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Abstract: | For a long time, the Russian government has aimed to diversify gas exports to East Asian countries. This gearing of Russia towards Asia will have great consequences on world energy, the global economy, and geopolitics in the coming years. This paper analyzes the growth potential of Russia's diversification strategy and the impact this policy would have on sales to Europe. As the most likely scenario is for total gas exports to grow at a moderate rate from 2010 to 2030, any increase in sales to Asia could make difficult the raising of exports to Europe. Our thesis is that this trade-off will depend primarily on domestic consumption trends, geographic targeting of investments, and commercial and financial alliances with foreign partners. However, imports from Central Asia, declining exports to Ukraine and Belarus, and Gazprom investments in other gas-producing countries could also affect gas exports and gas distribution among different markets. |
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Keywords: | JEL classification: Q47 Q48 O52 O53 |
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