Media obtained secret documents of the Russian government: the Kremlin is preparing for major gas losses
The price of Russian pipeline gas for China will decline over the next few years. The cost will be much lower than when Moscow has been selling it to Europe.
This is stated in a document of the Russian government, which was obtained by Reuters. Russia's oil exports will also decline next year, while the price of Russian oil will rise in 2024, according to a forecast of Russia's socio-economic development until 2026.
The price of Russian pipeline gas has not been published by either the government or energy giant Gazprom (GAZP. ME) since supplies began in 2019, while analysts have long suspected it was much lower than the price at which Russia sells it to Europe.
According to the document, the price of Russian pipeline gas for Turkey and Europe, which has seen a sharp decline in imports from Russia due to Moscow's war in Ukraine, is expected to fall to $501.6 per 1 cubic meter this year.
The document showed that the export price of Russian oil is expected to be $71.3 a barrel, compared to $79.6 in 2022 and $63.4 this year, which is above the $60 price limit imposed by the West.
As OBOZREVATEL previously wrote, Russia estimated the situation in the gas market in the wrong way. The price turned out to be many times lower than predicted in the Russian Federation.