Charting the shortfall in Russian gas supplies to Europe

摘要

In a recent presentation pack for financial analysts,Lukoil included the graphic reproduced below.This shows the sources of Russian gas supplies to Europe and,more important,a potential shortfall of over 400bn cm in likely Russian supply to meet European requirements in the period to 2020.The graphic also shows the way that Lukoil and others expect gas prices in central Russia to increase to 2010.Lukoil's assessment also indicates the way in which,with lower lifting costs and lower capex than oil,the future development of Russian gas resources will actually be more profitable to Lukoil than new oil developments in Russia.