Russia to reduce oil and gas export to Europe

Russia to reduce oil and gas export to Europe
  • Clock-gray 09:39
  • calendar-gray 24 November 2020

It is expected oil and gas export from Russia to Europe will decrease until 2040, said Leonid Fedun Vice President for Strategic Development of LUKOIL, APA-Economics reports.

"It is inevitable (Reduction of oil exports from Russia to Europe-ed.). The oil market of Europe will decrease, according to the forecast of the European Union, until 2040 market may shrink twice," said Leonid Fedun.

Along with this, the official of the company noted that gas export from Russia will also decrease: "There will be a reduction, but the period when gas prices are low will not be so strong. "

 

 

 

 

Emil Ismayilov

Other news