Russia Struggling to Find Alternative Markets for It's Gas: IEA

Russia’s share of the global gas market could halve to 15% by 2030 as the country struggles to maintain export volumes, despite an increasing Chinese market according to the IEA.

• The agency said 2021 would prove to be a high‐water mark for Russian export flows.
• Deliveries to China might rise from 10 bcm in 2021 to 50 bcm by 2030. This is largely achieved by ramping up the Power of Siberia pipeline.
• "Overall, however, Russia's increased pipeline natural gas deliveries to China cover less than half of the drop in exports to Europe by 2030," the IEA said.
• "The flaring of associated gas has recently increased, and there is a short‐ term risk in all scenarios of large‐scale flaring or venting to ease system pipeline pressures Russia's efforts to diversify its export markets have mixed success," the IEA said.