MOSCOW, March 6. /TASS/. The Russian government sees high demand for its LNG in friendly countries and the potential for signing long-term contracts, according to a cabinet statement following a meeting between Deputy Prime Minister Alexander Novak, industry ministries, and oil and gas company representatives.
"In accordance with the instructions of the Russian President, we addressed this issue today (redirecting gas supplies from Europe to other markets - TASS). We discussed in detail the current situation and the possibilities for rerouting gas. We decided that some of the LNG volumes currently supplied to Europe will be redirected to other markets where constructive, pragmatic relations are being built with our country, where there is demand and the opportunity to enter into long-term contracts," Novak said.
At the meeting he also noted that the global oil and gas market is currently experiencing high turbulence and uncertainty due to the situation in the Middle East. This leads to higher energy prices in some regions of the world, as well as the emergence of new logistical challenges for the industry as a whole, Novak said.
