Gazprom s export strategy to Europe: Ensuring security of supply vs challenges from US LNG where does Asia fit in and how high can exports go?

Transcription

1 From Russia to Europe. Gazprom s export strategy to Europe: Ensuring security of supply vs challenges from US LNG where does Asia fit in and how high can exports go? Elena Burmistrova Director General, Gazprom Export Amsterdam, 15 May 2018 FLAME 2018

2 MAJOR SUPPLIERS TO EUROPEAN MARKETS Deliveries by Europe s major exporters and producers, bcm ,4 179,3 Exporters Internal producers ,6 124, In January April 2018, Gazprom increased natural gas exports to Far Abroad countries to unprecedented 70.3 bcm ,2 49,6 24,1 24,0 26,6 16,7 44,9 45,1 45,5 39,1 On 2 March 2018, Gazprom set an absolute record in terms of daily export deliveries at mcm/d, demonstrating its robust ability of being a swing supplier at a time of demand spikes 0 PJSC GAZPROM 1 ALGERIA (INCL. LNG) QATAR OTHER LNG NORWAY UNITED KINGDOM 2 NETHERLANDS 1 Gas supplies under the contracts of Gazprom Export (192.2 bcm) and Gazprom Schweiz 2 Including domestic consumption, pipeline and LNG deliveries from Norway to the European market, but not LNG to Asia and America Source: PJSC Gazprom, Eurostat, National Statistics, IEA 1 FLAME From Russia to Europe. Gazprom s export strategy to Europe

3 GAS BALANCE IN EUROPEAN UNDERGROUND GAS STORAGES According to Wood Mackenzie, by the end of 1 st quarter 2018, gas reserves in European gas storages dropped to record minimum of 20.5 bcm which was 7.5 bcm less than in 2017 and 3.1 bcm less than the previous minimum set in 2013; Source: Wood Mackenzie 2 FLAME From Russia to Europe. Gazprom s export strategy to Europe

4 ADDITIONAL GAS IMPORT NEEDS OF EUROPE IN According to consensus forecast, additional imports needs of the EU will amount to: 77 bcm in 2030 г. 88 bcm in 2040 г. Natural gas European demand and production gap is calculated as the difference between the demand consensus forecast and the production consensus forecast. Definition of European countries slightly differs from one forecast to another. For the purpose of comparison all forecasts and scenarios are restated on annual basis. 3 FLAME From Russia to Europe. Gazprom s export strategy to Europe

5 GAZPROM S NATURAL GAS BUSINESS IN ASIA PACIFIC LNG IMPORTERS - EXISTING - POTENTIAL Western Route Eastern Route Far Eastern Route Sakhalin 2 Sakhalin 2 Train 3 Gazprom continues to expand its natural gas business in Asia Pacific by developing new projects for both LNG and pipeline gas deliveries. GAZPROM S LNG ASSETS - EXISTING - POTENTIAL China South Korea Japan Gazprom s pipeline gas deliveries to China start in December Power of Siberia gas pipeline construction goes ahead of the schedule. GAZPROM S LNG SUPPLY ROUTES - EXISTING - POTENTIAL GAZPROM S PIPELINE NATURAL GAS SUPPLY ROUTES India Bangladesh Thailand Singapore Malaysia Vietnam Taiwan Philippines Gazprom is committed to building a diversified LNG trading portfolio to continue reliable and timely deliveries of LNG to its customers. - UNDER CONSTRUCTION - POTENTIAL other supplies sourced from Gazprom Group s LNG Portfolio Indonesia 4 FLAME From Russia to Europe. Gazprom s export strategy to Europe

6 GAZPROM S NEW EXPORT ROUTES TO EUROPE Nord Stream 2 TurkStream EXISTING PIPELINE PERMITTING STAGE EXISTING PIPELINE PIPELINE UNDER CONSTRUCTION Export capacity, bcm Length, km Construction start-up Commissioning date 55 >1, Export capacity, bcm Length, km Construction start-up Commissioning date 31.5 > (Q2) FLAME From Russia to Europe. Gazprom s export strategy to Europe

7 GAS IS AN INTEGRAL ELEMENT OF EUROPEAN ENERGY TRANSITION Without a reliable and flexible back-up to RES, the Energy Transition will result in higher costs and lower supply security Natural gas drives competitiveness and creates economic growth Natural gas ideally suits to fulfill ambitious climate goals of Europe In the era of globalization, transborder gas trade creates commercial opportunities for governments and business and improves prosperity of people. 6 FLAME From Russia to Europe. Gazprom s export strategy to Europe

8 Thank you for attention! 7 FLAME From Russia to Europe. Gazprom s export strategy to Europe