ah, in russia, uh, that means they are selling their shareholdings, but uh, in general, the functioning of these facilities, which they once acquired, but remains functioning normally in russia. our task is to support and control the situation, so that there is no, firstly, e means there were no layoffs of workers, but a decrease in production activity there. uh, these businesses. well, if we talk today, in general, about the situation as a whole is already in the complex. she is already in terms of such an annual history of the autumn-winter season heating. now everything is ready for the passage of a new one. today. we still have the month of june, and the active phase. yes active phase. ah, so it's getting ready. we see no problems across the board. here is the part of preparing the glowing objects. and of course, we reacted there to what is there, but it is necessary. perhaps due to temporary

difficulties with components, we have changed approaches to repairs in networks, there we are more loyal, and they are more expensive, but in general. we don't see any problems. as for the generating complex. uh, there are some complications with this old production turbine plant. we also found a way to save resources, e and the changes made, a to the rules of the market. and therefore, e means, moreover, we have reserves, e, which have reached the normative reserves, therefore, the replacement of these, e, finding e, leading facilities does not affect the reliability of the energy supply. there will be no complications with the accumulation of fuel. it's all coal. uh, means fuel oil. there will be no problems with the flow

of personnel. moreover, we are not preparing now not only our energy system. we are still participating in preparations for the fall of the winter energy system of the republic of energy, a separate task, so the work is going on as usual. e, so we will sum up the results somewhere at the end of october in november, but there will be complications. we don't see, uh, compared to those uh , unfriendly companies that are forecasting massive power outages, sometimes fuel shortages there. uh. it means the impossibility, uh, to fill the gas storage, but by a certain date, when we don’t have such a regulatory level, and everything is under control. some even just advise to dress warmly, but that's another story. well, we can wait here for advice on what to do, and if we talk about that and the funds will be

directed to a new rfp, there is already an understanding in numbers or not yet for preparations for the new heating season, they are not planned separately here is an article, if there are articles, uh for sunbathing. well, uh, which are not included in the scheduled repairs or those, uh, regulatory repairs that we uh carry out, but they are simply supplemented, based on a specific assessment of the situation, based, for example, on the fact that the leash has passed, how much has been sunk on supports? how much needs to be restored, but it is impossible to plan. it is necessary to do this in fact, or the fires that took place this year, and they were large-scale, and even if there were more fires than last year. by the way, we have already stopped all these burned-out supports, and they were already unplanned. e, means spending ours , but it is our duty

what needs to be done, and find money in any case, find the possibility of other items of expenditure, but, but do the work. here you are talking about the cataclysms that took place. yes, and fire floods in general, how can power engineers somehow prepare for this in advance. well, uh, fire is impossible, because people have not forgotten the fires and there are basically you know, it's uh, basically, it's the human factor that must be fought, of course, with sources. well, as i understand it, and these penalties have already been made public, for this administrative punishment for it. i think that there will be fewer of them, but our task is to enable disconnection and, well, elements of the energy system of the economy. it resulted in as few consequences as possible, because we observed cases when the last 500 kw a in

siberia were switched off with automatic operation, which was still carrying out the repayment of consumers. well, that's why it 's important for us to have less consequences, and get rid of the fire, but we will only observe the investigation of these cats regarding the flooding. it it is clear that a large number of supports or lines, and flood zones can be taken out. but this is also a very high cost. and moreover, they are annual and we bear only one period. uh, floods or flooding, then there is still garbage rain ahead, uh, at sea, and we are still waiting again. well, we are also ready for this, and it means now about 5,000, but about sunk, but we are monitoring the state and after the lord of the water we checked the state of the foundation of that, supports, and so on so that these lines are also somewhere out of the ground. well, you have already noted about how some countries are leading, but active.

now we are working to ensure that there are reserves for the winter, if we talk about the russian coal industry, how does it feel today, if there may be some additional request for the supply of additional e volumes to other countries or not, given that the coal embargo, e, to europe will be in august the tenth of august, then we are now working on the direction, of course, to the east in different directions and through the eastern manifestation and through the south. a. the second e theme is what is in the past year we experienced some difficulties at the entrance to the winter, and with the accumulation of more reserves in our power plants, as well as in the boiler houses of the housing and communal services , there was interfering at all levels, something that is not there. i think we will take these mistakes into account and today there is a certain increase in demand in the domestic market. i don’t know about sports, so we will definitely solve this problem, and given that logistics will work later. we will continue to deprive

the task. uh, means export destinations, and another issue that i think is very active is discussed not only in the press, but also in the government, if not business, this is a question of legalizing mining, here you have what position do you think it is necessary or not? for some reason, i've already heard today, i think that putin's ministry of energy is there and vice versa. only we are for the legalization of this type of business, its correct definition as a type of activity, which means making changes to tax legislation, which means that it was a separate direction. perhaps separate tariffs, so that this is legal consumption, and they are on account of e consumers of others, but because they use the tariff for the population, which subsidize subsidizing the police these a and illegally, consuming, increasing consumption, that is, causing damage to the network for trying to legitimize and on such a concept themselves work. e. and we are holding a meeting in

the house the duma is holding a meeting with the committees themselves, it is being discussed, and i think that by the end of the year we will come to some result, because there are more, especially there are regions, which means nodes for energy centers in which, well, you can definitely there are reserves of network capacity, generating capacities, where it is possible to do this, only it is necessary to put it on a legal board, they began to talk about the electric power industry. in general, we talked about the situation in the stack. how does the whole complex feel today? here, if we take about the electric power sector. what changes may have taken place today, taking into account, again, the external situation, and how is it possible to fully ensure a stable energy supply to the entire country? you see, under any conditions, we must ensure a stable energy supply to the country. energy security, therefore it is our task in all in all uh, difficult situations of financial crises there uh and others. uh, well, let's not talk about global

energy crises. well, therefore, uh, it means, our task is to do our job, which means, in spite of all the difficulties. if there are difficulties we must solve. today we see that the electric power industry ensures the work of the economy, and electricity consumption as one of the factors, which means that the economy grows and preserved to maintain growth rates, this is consumption calculation last year, but by 2.5% and i hope that this rate will continue until the end of the year. well , maybe it will fit a little, but it will still be one and a half to two percent. we observe specific nodes where more grows. a little less, because we can see by industry, for example, today the machine building sector has slowed down a bit, there are problems. we see that these enterprises are located there, they have decreased; in other places, they have increased. but it is necessary to react in due time and understand where where there is a point of continuation of our forces in order to

to ensure the stable operation of electricity to ensure the stable operation of the entire complex, despite everything, despite the difficulties, despite the fact that on yes we do not have indexation of network tariffs, but we still have to do this, and, uh, it means proving the need. e, including e funding, including the network function, more secure interviews. um, i remind you that we talked with the minister of energy. nikolai shulgino and now there is a live broadcast on our channel. uh, the sound of the global gas and oil market today and tomorrow it is clear that we will talk about both oil and gas. and as i said, the topic is important. eh, alexander valentinovich, if i'm talking about oil today and about today's market. i have a question right now. is it possible to have a meeting between south arabia and a representative of saudi arabia while i

have not seen anywhere in the news how it ended and how it went. can you tell us some news . indeed, this morning we met with energy minister prince abdoleziz. he came here to to participate in the work of the 25th anniversary st. petersburg economic forum. well, you know that we are traditionally together, uh, have been participating lately, especially when it came to our relationship within the framework of the deal plus in various forum events, so we believe that this visit is, of course, very important, uh, and for us in order to compare, including from the largest oil producing party, our views and watches on the current situation in the oil market against forecasts that are before the end of the year of all

certainly interested in forecasts, including price forecasts for balancing production supply and demand. uh, i told my colleagues in detail about the situation that we have in our oil production. in the export of oil refining, the current situation, and we talked. as i said in the forecasts, therefore, well, as if our interaction continues, the interaction that we have been developing for many years continues, which has shown its activity quite effectively and today's visit. this is proof that we we will continue to work together and as stipulated by the current agreement, as we agreed on balancing the market, because in today's conditions, in today's uncertainties that we see in the market. it is very important to continue working together so that we do not get market collapses similar to those that could happen at the beginning of 2020,

everyone remembers. uh, that month of march, but i want to shave my colleagues. taking the opportunity that they flew in, we or it is very important and necessary and negotiations. can i still i will ask everyone this is a warm-up question, if we are talking about the fact that the oil and gas market today is the oil market, today it is this, if briefly and in comparison with last year, for example, if briefly uh, then uh, probably it can be assessed as balanced, but with huge risks and uncertainties of what can happen there in this market, taking into account the decisions that we see political decisions that are not related to the economy regarding e bans on the supply of certain energy resources to certain other countries, but redistribution configuration. uh, traffic flows. the actual reconfiguration. that

is, i would say that the market is waiting for some kind of transformation in terms of demand and, uh, supplies to individual energy markets. should we expect some global changes in this market in the near future. well, you know. i think that everything will depend on how events develop in the region, including the reconfiguration of transport logistics chains, and this is a very serious thing that has been developing for decades here are the current markets we know european market asian market. ah, latin american north america is definitely an african market and today's political decisions there regarding a ban on the supply of e to the us countries canada european countries of oil products. it is clear that there is a delayed date, however. this is

a huge challenge for the entire oil industry in terms of rebalancing, and reconfiguration and today the market lives in anticipation of this. how to reconfigure it's a system. thank you, alexei borisovich, i also have a question for you about the gas market now, how you describe it. yes, well actually you know, i was supposed to do a performance. overall. we can, of course, conduct a dialogue, uh, with you and in this mode, uh, but you can also speak. this is where i lead my next question. just what we discussed with you about global changes. that is, you then provide simply yes, please, good, please dear colleagues, dear friends, i am glad to welcome you in st. petersburg economic forum and today i would like to touch on a number of issues. some fundamental things are very important. i think everyone will agree that we are witnessing some very serious

uhmm tectonic changes that are taking place in the commodity markets. and most importantly, the economic paradigm is changing. uh, in particular , the delirium of the angut system is fading, 2. we are witnessing price shocks in gas prices, we are witnessing ultra-high volatility in the commodity markets and very high inflation, but all this it did not start yesterday, not today, and here i must say in quotation marks, many thanks to foreign regulators. and in particular the european regulator. for a long time we have not heard such a wonderful phrase, the third energy father. and let's remember today

about the third energy package. what was it? and where, in fact, have we come or our consumers with this energy package, where have they come? this means the first let us, within the framework of the third energy package, refuse to be tied to the determination of gas prices. to the oil indexing to peg to oil prices is fine. this work began under the guidance of european regulators. what do we have with you today, what do we have with you today that everyone desires? so that, under their contracts, the supply of gas is carried out with an oil peg. because it is the lowest gas prices

on. let's give up long-term contracts. why these your long-term contracts? let's come to the spot. let's switch to exchange instruments. and now the market is a spot exchange market. everything will fall into place. but we know that if gas is not sold, then we do not create its usual capacities, we do not produce or transport it, so today we can also please our regulators that those long-term contracts that have not been extended or new ones have not been concluded. under them, ordinary capacities are not created and are not set in this way for investment in order to invest in the gas industry. as for sports and stock exchanges. tools, and we actually warned and

said. well, why would you do that when the gas's in unlike oil is not a classic commodity? as a result? all of these spot exchanges are illiquid. what was your answer then? what was your answer then? when you said no. they just did what they saw fit. you know one famous emperor once said, if your opponent is an opponent mistake. well, we warned, we said, look, it's a very risky undertaking to refuse long-term contracts. next nord stream 2 and nord stream 2 we are exactly the same

they built it like nord stream one. uh-huh we first u get what is called u order. after all, we are asked for it. we ourselves are starting to build such infrastructure projects and say, hello we have decided. uh, to the water's edge. we have a pipe already there, of course. of course not. no, we were asked to build a huge investment, but the funds are under pressure and today we can start delivering to germany via the nord stream. yes, it is not put into operation, because it is not certified. well then the question arises. as in general, you can trust mmm investments in an investment project investment projects are such

more stringent definitions, this is discrimination against investors. oh, so what concerns inflation, what concerns price volatility. uh, as a matter of fact, uh, in all those decisions that were, uh, proclaimed and actually implemented. well, get it and sign for what you fought for that and that and sometimes, but at the same time, in the white house in washington they say that russia is either to blame for everything. okay, now we'll talk, so what something happens and who, where in general? what coordinate system is it in? so actually, inflation and volatile scenes give rise to the need for loans, in particular short-term loans. uh, but then there is the need for

banks to have more liquidity. and we already see that some foreign banks. use certain complexity in the provision of such loans. or maybe they have such an opportunity in general, after some time it will dry up, taking into account such volatility and such price shocks. so what we are witnessing what we are we are witnessing a gap? the two systems on the one hand are the system of commodity markets and the resource system, and on the other hand we will call it the nominal system, e central banks and grains. what exactly are the problems and what is this gap and it is observed. excuse e, not because someone is blaming someone. it

's just a given. and uh central banks. in fact, they regulate the rating. the value of money governs interest rates. regulate through these nominal instruments. i want to pay attention here. this is a very important point, they manage and control. demand demand, yes but that they don't control. they control them. supply of commodity and raw materials markets supply the volume of this supply of

such instruments they actually simply do not have, and the angut system is nonsense. in fact, this is a paradigm. uh, our currency. our rules we tell you how you can use our currency, what we allow you to do. and what we do not allow you in general, the law is the atlantic but we see that the dominance of the dollar. leaves appear settlements in national currencies, and eventually the paradigm changes. and if we recall the classic scheme, money is a commodity, money is a stroke. here it is the paradigm of prytanwood. now

a completely different formula comes to the fore. money goods sold first gas, then it was extracted our goods. our rules we don't play games. rules that we didn't make up. someone says the atlantic law and the most interesting thing is that the sanctions policy. led to consequences that no one could even imagine. why because sanctions and counter-sanctions have affected the global market arrows are good for everyone, we know such a thing as quantum

entanglement in quantum physics. only you know this, we can say that today sensational and quasi-stationary confusion has set in in the world economy. tens of thousands of sanctions counter-sensational documents at the same time, it should be noted that they are also possible, secondary, tertiary, and so on sanctions. what does it mean? it means that turns out to be the so-called extratrial law. appears not only in the breton wood paradigm when our currency is our rules, but also appears in another paradigm. why is it because you cannot describe the state of your energy system or economic system without knowing the rules of a particular

commodity market or without knowing the volume of supply in this market. and in this situation, it turns out that the institutions of the breton woods system. global international institutions. they are simply. sorry it doesn't make sense. they lose meaning, they don't work and they quietly die off. you know, no one said that the apocalypse by this or that paradigm or this or that system will also come on the same day instantly. yes, and remember the anecdote. yes, when a man's leg hurts, he comes. e, to the famous surgeons of the academician, to consult and the first, says it is necessary to multi-amputate as soon as possible, the second says. no , you know, you need to

speak as quickly as possible to the third. no, no, urgently i will give bottles, but the man is a lot sorry. he comes to the therapist and says, listen here, look what he says with his leg, these are all surgeons. they say you have to rebel. he says, no, what he loses is not necessary. how come so all the academicians of the luminary of surgery, said that the leg? don't worry, it dries on its own. so, you understand, these global international institutions of the russian system are also on the sly. they dry up and dry up and we do n’t feel them anymore, and they themselves don’t understand their place anymore and i emphasize the meaning is simply lost, the meaning is lost, but if we talk about the pre-nabuda system, uh, and what we are talking about said above this system. uh, this is nominal value regulation in the gap from possible control over the supply of commodities

. it gives the most powerful inflation. impulse the system itself is the way it is arranged. not ivanov, petrov sidorov, not smith and no one else, the british system itself gives a powerful contagious impulse . hoarding duplication of supply chain chains and eventually you and i end up , in the understanding of what, uh, you know, some experts say. the game is over we are actively fighting anglicisms, but i think that today this english

phrase can be used. and why is the game over because the demand for raw materials replaces the demand for foreign exchange reserves? and this is a very serious tectonic shift , the colossal question arises what, when does it give us? well, firstly, this gives us a window of opportunity in terms of restructuring the global system for the production and distribution of fuel and energy resources. for a more efficient and fair energy supply. many experts say it's time creation of new energy-economic associations,

which, in particular, can be built on a single value chain e, in the fuel energy complex, together with e, taking into account production cycles, but most importantly, with a clear focus on a specific volume of consumption. some experts go even further and say that the basis of such associations can be three hells. energy raw materials food military potential russia, as we know, is very rich in natural resources, this is natural wealth. what does it mean? does that mean e contour? the socio-economic structure of a new type, of course, will be

determined to a very large extent by the russian federation, and there is no doubt about this what is happening in the markets. let's talk about the last few years, because the situation on the markets is not changing very quickly and yet. if we talk about the real, but the state of affairs in the markets, then it is not necessary there even when it starts to talk about the injection of peg gases, there over the past 10 or even 5 years. it's all some numbers. it is necessary to look at the figures of recent years 18-21 hmm if we talk about gazprom, the company has successfully passed this very difficult period. uh, booms and busts in gas demand. a period of limited mobility and a flat recovery last year in 1921, 1/3 of the

increase in the entire world demand for natural gas was provided by gazprom's production. under the conditions that we talked about, which are mmm without a doubt fundamental and uh , which are of such a long-term nature. uh, we see m-m and e changes that are taking place in the domestic market in a positive direction, because it is more active in creating gas for capacious industries and small and medium-sized large-scale gas processing gases, but the most important thing is the task that was set by the president of the russian federation in the future putin is e , full gasification of the country technical possible gasification of the country by 100% will be reached in 2.000 thirtieth year, of course,

this is also the production of mineral fertilizers. uh, and this, of course, is the development of gas-vehicle transport, if we talk about the volume of gas flights at the expense of the program. gasification, who in 2030, it will be somewhere around 20 billion cubic meters of gas, and for gas motor fuel, somewhere around 10 billion cubic meters of gas, speaking on the domestic market, of course, we must definitely tell you about the eastern gas program like this. eh, as far as the eastern gas program is concerned, we did not begin to develop it and implement it yesterday. not at all yesterday. but we have already accelerated and i want to say that we are in the very near future and will accelerate implementation let me remind you of the very large mega-projects of sakhalin khabarovsk by the power of siberia, i want to

note the new contract, which was signed in february this year, and the supply of gas to the people's republic of china from the far east in the amount of 10 billion cubic meters of gas design studies for the construction of a bridge between the unified system of state supply that we have in the european part of the country with eastern siberia and gas pipelines from the far east. uh power, siberia-2 and so on and so further and so on. and uh, the most important thing is that prices in our domestic market in russia are absolutely stable, predictable and socially oriented, and, of course, it should be noted that our gas contributes and will continue to contribute even more. uh, uh's contribution to the fact that the cost of our industrial products, uh, is and will be or will be even more competitive with the european

union. now everyone is hearing about the portovaya compressor station, that’s what the portovaya compressor station is . how is it that this is happening at all, you know, here, uh, we talked about it. e hmm sanctions confusion, not that it is sanctions confusion, not that it is someone's absolutely purposeful decision, but in fact, the situation is very difficult. it er, actually lies in the fact that, er, when we built er, the northern streams, the first and the second stream, but especially the first one. er, of course, all the proud european countries highlights the trance european. e, the scale and format of the implementation of this project were called dozens of european countries that take part in supplies of equipment for the construction of nord stream one and since germany and german companies are shareholders of nord stream

one, of course, not a small share, supplies of equipment and vile companies have taken and are taking part in this project, and in particular the german company siements. so today , all gas-transferring units, all gas turbine engines, and so on and so forth. so, this is all siemens, but any gas turbine engine, as you and i know, has generally repair time resource and after the expiration of this time period between repairs, it should generally be sent for overhaul, i pay attention to capital repairs, and overhaul this is a factory story and it turns out that siemens has only one plant.

there is only one plant where these engines can be repaired and this plant is located in canada perfectly . you know, in relation to gazprom, only one side has adopted, uh, the sanctions are canada. that's what canada has adopted there sanctions in canada i work. wherever canada is, here canada has adopted sanctions against gazprom, siemens has supplied the engine, and for us, siemens is a partner, and not a canadian plant has supplied engines for repair, but cannot take it away from there. excuse us, we have our canadian law. station what

international sanction right gazprom gazprom under sanctions you are not boys, we have our own plant here, it is interesting, and our own turbine, which belongs to you, which you must supply. yes interesting, but sanctions are impossible. what to do? we do not know the sanction go. and then more? the engine will deprive at the factory from the factory the blue engine cannot pick up, but other engines. everyone is coming up and already, but not everything is still there, right? by the time it needs to be overhauled. and there will be no other alternative to send them to canada. no, no other factory

can send it either. when the question arises is it that some kind of station entanglement has happened or maybe it happened, you know somehow with understanding the answer to the question. why was this done? but if there is such an answer to the question why this was done, then you know the purpose of the sanction can be much more global, and maybe it makes sense for someone to think about it. by whose hands is this done? i can tell you objectively right now . today, there is no way to solve the problem that arose at the portovaya compressor station. well, there is no such solution, you understand, while siemens is silent. trying to find these solutions. but

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additional. gold lng supplies will struggle. with chinese indian asian buyers this is you exclusively can not. but that the demand for lng will grow there in the near future time. this is absolutely certain, we know the factors that have now worked on a temporary decrease in demand, the influence of these factors is now on the decline. such know, very much i consider that well, illustrating an example from the point of view. what kind of solutions are offered there in europe

they say? oh yes, you know you listen to the short term in the short term. let's increase it now. ah, biomethane production of 17 billion cubic meters of gas. well, 17 billion cubic meters of gas, you understand, this is for europe for russia 17 billion km in the short term, so today, uh, well, in europe, uh, more than a thousand 1.023. e plant for the production of biomethane produces they are slightly less. than billion cubic meters of gas? they created such capacities

for 10 years, so that they would have 17 billion, if we focus on the rates that were, that there will be 17 billion cubic meters of gas, biomethane they will increase, which means that then it turns out 60 years and 5,000 5,000 800 plants. well, you know, i think that here you can use the comparison, what can a mountain give birth to a mouse? uh, it's definitely made, sometimes very drastic decisions are made very. fast isn't always good. eh, well-thought-out decisions, but you know, you do n’t understand what is called the word not a sparrow, but you don’t understand, and we already talked about long-term contracts today. they said they didn't need

a long-term contract. they said everything, so they are not needed, so they will not. here we have fulfilled our obligations. we heard everything. here, uh. you can, the other side, as it were, obligations in the plan, there is biomethane and or floating reconstruction installations or something else, whatever you have or display islands there is also a separate issue, but a very big one we won’t even touch on it. uh, something about the twenty-first year. which countries showed the highest? uh demand, this is of course china and this is india over the last 10 years 2011 er, 2021 er, the reset in china has provided you think about 32% of the growth in global demand for natural gas. over the past five years since 2016, the

average annual increase in gas consumption in china is 32 billion cubic meters finally, 21 years of gaz in china's energy balance is 8.5%, and by 2030 they have set a target of 15%. and i have no doubt that they will achieve this goal. well, let's be concluded literally from the most recent operational figures. there it definitely concerns over 5 months of gas over 5 months of 2022, compared with five months of 2021, the question decreased by 20 billion cubic meters of gas in 27 countries of the european union over the same period? answer to 24 billion here, and on the

other hand for 5 months 22 years compared to in a logical period last year, gazprom increased pipeline gas deliveries to china by 67.5% plus. well, let's talk about the medium term. uh, still medium- term. we will consider one investment cycle with you - this is 5 years in the gas industry such a figure. the working term is absolutely working, but here is the pessimistic forecast for the growth of hmm world gas consumption. pessimistic plus 320 billion cubic meters. uh, the average forecast plus 370 billion cubic meters of gas, i draw your attention. i wanted this audience to understand everything that, taking into account the declining production at existing fields, conventional capacities should be

created much more. therefore, the next 5 years, the gases of the industry will have to. such a big serious large-scale work russia is energy and stability, as well as russia is a supplier of energy stability for friends of russia thank you after such words, you really want to say, really, i imagine the headlines today that it will be written everywhere game over gamezova, clarifying questions what it is was for the game. and what was this game and why did you decide to finish? well, in fact, and then

it will be necessary to repeat once again, firstly, what kind of game we are talking about the bretovudskoy court system. this is the first. secondly, we are talking about the fact that the demand for foreign exchange reserves replaces the demand for raw materials. so here's a game of face value of money. ended the game in nominal tools ended. and this system does not allow you to control the supply of the resource. it does not allow you to control the offer. in commodity markets, these are nominal instruments. interest rates

exchange rates do not allow this. and the steering wheel and the place of raw materials and energy are increasing. energy and raw materials are needed for everything. thanks alexander, the same is true in oil, and how can this be described ? there is a global redistribution of the market going on now, and if it happens, then in the interests of whom? well, look, i agree, and indeed we are a world energy power. we supply our country to world markets. if we talk about this world trade, there are about 23% of gases, the same share is about oil, in fact, together with oil products. and therefore, of course, if we talk about our energy policy, we should,

first of all, meet domestic needs for normal, cheap energy resources that allow our economy to be competitive and, so to speak, energy independent. energy is safe. why strive? in principle, all countries in the world, but not everything works out, because unfortunately they do not. well, the second task is how we should use our competitive advantages in this area. energy. and within the framework of competition, a competitor of free competition to ensure the supply of energy resources for those who need it ensures the so-called energy security in the world and, in fact, today. we are, probably, gas-tight industries, and we are in the oil industry together with saudi arabia. probably , if we take it into account, we are closing in coal to a lesser extent, therefore, of course, of course, those

tectonic changes that are taking place in the energy sector today, they affect all industries, both the gas industry and the oil industry, and it is important here. e so what, let's say the decisions that are being made today are political, they are not well thought out, they are just, well, as they say, they do it first, and then they think what and how to get out of this situation or think about something else when they do, well, of course, i think it's politics, and then it turns around in the opposite direction, as alexei borisov used to say in his speech. that the same consumers are those countries where politicians first of all think about themselves about their elections. it's about being good, they're passing it all on to their customers. what do we see today? day here in the united states there are record prices for e, gas stations. uh, in europe, too, record prices for refueling in the us are seven dollars per gallon in europe we also see that the uk and the european union,

probably, gas stations are already two and a half euros there. if we take europe for a liter, they think i 'm talking about it again, that it's not my fault. and this is russia so bad because of us, these are the prices, as our president said, shifting from a sore head to health. we have already heard and this is certain. it 's just really poor quality planning your e-energy security, so to speak, as needed. and e formation, e, purchases of imports, proceed from the forecast and proceed from those e actual balances that should be formed and when not only. by the way, in this market, taking into account the asia- pacific market, taking into account other markets, when this happens, it seems to me that we see them, my rise in prices, which i mentioned, we see an increase in inflation, the us inflation today is already 8.60%, this has never happened before, rfps was not a record

a record level of 0.75%, this is a very serious increase. and this will lead to a strong slowdown of the investment active wall. subsequently, of course, and in europe, inflation is also more than 6%. prices for energy resources. not only for oil and gas, but also for the entire chain for housing and communal services for electricity, prices are rising, if there was still a year ago. uh, at the beginning of the year in europe, prices were about $50-70 per megawatt there. today it reaches 200 more, that is, people pay, moreover, while consumer spending does not only private consumers, but also industrial ones are growing much faster even than e, their incomes, this undoubtedly raises certain social issues and tensions, and so on, therefore, of course, we believe that these are the decisions that are being made,

they repeat once again . in no way calculated does not prepare a purely political nature, the nature of the pressure of the use of such instruments as sanctions to please, as it were, political ambitions. what are we seeing, for example, uh, some factors today influence when making a decision, for example, a bombardment on oil oil products to the european union. uh, competition is intensifying, first of all, for the actually existing energy resource, it is no longer in the world of free oil capacities in the world. come on, let's say we can talk about it, everyone knows that there are several million barrels per day of free capacity, which, uh, there , saudi arabia has a total in place of squia, there, united by arab equals there, and russian free capacity includes this somewhere 3.500. at the same time, we see an increase in consumption, an annual recovery in demand, which fell in

2020, and this year by the end of the year we will reach the level that was before the pandemic in terms of local demand. and this means that the next increase in demand will be additional conventional capacities, which are not available today, and we expect that in the next few years. it's just that an additional 4-5 million barrels per day will increase there. these are serious for the oil market. this is actually 5% of 100 million. which is consumed today, so what is the competition for a limited resource and, first of all, for the resource that, today, has been consumed at a higher rate over the past many years and in the future it will be in the asian pacific region. we saw this last year in the gas market. we are watching today. this is already in the oil market as a result of the changes that are taking place and are taking place as a result of political decisions. second.

well, if we talk about the redistribution of these energy resources, which, in principle, are quite limited, it is necessary to change the existing infrastructure, which, as i said, was created for certain established economic ties that have been developed over the years in terms of competition to increase efficiency. that is, these are the most effective connections when we deliver as friends, for example, to several oil refineries. in europe when we deliver to europe and not to the other side of the globe, as if our oil is oil products, but at the same time, what will happen today to happen, it is necessary to develop infrastructure in the european union in order to receive this oil, for example, not through oil pipelines, but through ports through those logistics hubs that have never had the capacity to deliver this thread to