The oil and gas aftertaste from the Alaska meeting

Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented on the possible directions for restoring oil and gas cooperation between Russia and the United States.

If negotiations continue to proceed in a positive manner, Alexey Belogoryev believes, then there will be sanctions relief for Russian oil and gas in several areas.

Firstly, the return of American business to the Russian industry, including the Sakhalin-1 project, is quite realistic. Companies from the United States can really invest in Russian projects again and work with these assets.

Secondly, the expert believes, it is quite possible that Washington will want to lift the embargo on the supply of a number of products from Russia, including oil, the grades of which are in demand at American refineries. The volume of such trade is not too large, so Washington may take such a step (considering it more as a political rather than an economic step).

Thirdly, according to Alexey Belogoryev, the White House may well ease the sanctions pressure on the "shadow fleet." Among such measures, there may even be the US withdrawal from the prices "cap" for Russian oil.

"But sanctions relief from Washington should not be expected for Russian LNG projects. There is direct economic competition with LNG plants in the United States. Only symbolic steps from Trump are possible on the European gas market. Like the abandonment of restrictions against Nord Stream 2. Precisely because Trump knows perfectly well that this project will not work anyway due to the EU countries opposition. In general, the most realistic points of contact in the oil and gas industry of the United States and Russia are the return of American investments in the Russian industry. The issue of duties against buyers of Russian oil and petroleum products will also be resolved," Alexey Belogoryev said in a comment for NiK.