Tinkoff-Journal published an article by Marcel Salikhov, President of the Institute for Energy and Finance - "What will happen if Russia stops supplying gas to Europe."
1. About 20% of the gas produced by Gazprom is exported to Europe. If supplies are stopped, the losses will be noticeable, but not critical.
2. Gas prices in Europe are much higher than at the domestic market - Gazprom may lose a significant share of its revenue. Perhaps this will lead to pressure on prices at the Russian market.
3. Due to the stoppage of exports to Europe, the Russian budget may lose from 700 to 800 billion rubles.
4. Europe has nothing to replace Russian gas right now. All hope is for underground storage facilities, reactivated deposits and nuclear energy.
Download the article (pdf).
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