Alexey Gromov, Principal Director on Energy Studies of the Institute for Energy and Finance, gave a comment to Gazeta.Ru regarding the US opportunities to increase the supply of petroleum products to the EU.
In the ideal scenario, the United States and Qatar could help the Europeans reduce gas dependence on Moscow, Alexey Gromov emphasized in a conversation with Gazeta.Ru.
Taking into account the anti-Russian sanctions of the West, the only way for the EU to carry out oil and gas diversification is US assistance. Already in 2022, the States will be able to increase domestic oil production by 0.8 million barrels per day compared to 2021, Alexey Gromov emphasized in a conversation with Gazeta.Ru.
“Washington has about 19 billion cubic meters of LNG left uncontracted. Qatar will be able to increase exports to the EU by another 16-17 billion cubic meters until 2026. But in any case, these volumes will not reach the EU by December 2022,” Gromov concluded.
In the context of assistance to European allies, the US can use leverage on Iran and Venezuela, which are now under oil sanctions. By December, these countries could increase the supply of raw materials in the world by 2.5 million barrels per day.
Tehran and Caracas are well aware that if they now give up slack in negotiations with Washington, without achieving a complete rejection of US sanctions, they will remain under their yoke for a long time to come. In this regard, an increase in oil supplies to the EU will directly depend on the US deal with Iran and Venezuela.
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