"The explosions of the Nord Streams pipelines: geopolitics of interrupted energy links"

Alexey Gromov, Principal Director on Energy Studies of the Institute for Energy and Finance, took part in the discussion of the Valdai Discussion Club on the topic: "The explosions of the Nord Streams pipelines: geopolitics of interrupted energy links" (from 34.10 minutes).

The aggravation of relations between Russia and the West has led to an unprecedented crisis over gas supplies from Russia to the European Union. Large–scale sanctions have significantly hampered the maintenance of the gas pipeline infrastructure, and sabotage on the Nord Stream–1 and Nord Stream-2 pipelines has raised a big question about the very possibility of supplies along these routes in the foreseeable future. Taking into account the combination of political factors, it can be stated that the volume of gas exports from Russia to the EU will significantly decrease. Both sides face the challenges of finding alternative partners. The EU needs new reliable suppliers of gas or other energy carriers that could compensate for the deficit, and Russia needs new markets.

The discussion was also attended by:

• Alexey Grivach, Deputy General Director of the National Energy Security Fund;

• Evgeny Tipailov, Executive Director of the Institute of Problems of Interdependence;

• Ivan Timofeev, Program Director of the Valdai International Discussion Club.