https://sputnikglobe.com/20221222/center-of-energy-consumption-shifting-to-east-production-to-west-chinese-ambassador-1105692312.html
Center of Energy Consumption Shifting to East, Production to West: Chinese Ambassador
Center of Energy Consumption Shifting to East, Production to West: Chinese Ambassador
Sputnik International
MOSCOW (Sputnik) - The anti-monopoly trend in energy and finance is becoming more evident, as the center of energy consumption is shifting to the East, and... 22.12.2022, Sputnik International
2022-12-22T08:51+0000
2022-12-22T08:51+0000
2022-12-22T08:51+0000
economy
gas
oil
production
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"From the point of view of key global industries, the anti-monopoly trend in energy, finance and other areas is becoming more evident. The structure of demand and supply in the global energy market is undergoing a profound transformation, with the center of energy consumption shifting to the East, production to the West, and pricing mechanisms becoming more flexible," Zhang said. The multipolarity of the global energy supply structure is further enhanced since oil and gas production is accelerating in Russia's eastern Siberia, in the Central Asian region of the Caspian sea, on the shelf of West Africa, in Brazil and other regions, the ambassador noted. Global energy prices have been rising as part of a global trend since 2021. After Russia launched a military operation in Ukraine in February and the West adopted several sanctions packages against Moscow, gas prices accelerated their rise, placing energy security high on both the global and national agendas and pushing many countries to resort to contingency measures. The European Union announced a ban on the provision of services and insurance for Russian oil supplies around the world, as well as a partial embargo on Russian oil. On December 5, the EU's ban on seaborne imports of Russian crude oil to third countries, as well as the newly agreed price cap on Russian oil of $60 per barrel, went into effect.
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energy consumption, east, production, west, chinese ambassador
energy consumption, east, production, west, chinese ambassador
Center of Energy Consumption Shifting to East, Production to West: Chinese Ambassador
MOSCOW (Sputnik) - The anti-monopoly trend in energy and finance is becoming more evident, as the center of energy consumption is shifting to the East, and production to the West, Chinese Ambassador to Russia Zhang Hanhui told Sputnik on Thursday.
"From the point of view of key global industries, the anti-monopoly trend in energy, finance and other areas is becoming more evident. The structure of demand and supply in the global energy market is undergoing a profound transformation, with the center of energy consumption shifting to the East, production to the West, and pricing mechanisms becoming more flexible," Zhang said.
The multipolarity of the global energy supply structure is further enhanced since
oil and gas production is accelerating in Russia's eastern Siberia, in the Central Asian region of the Caspian sea, on the shelf of West Africa, in Brazil and other regions, the ambassador noted.
5 December 2022, 07:28 GMT
Global energy prices have been rising as part of a global trend since 2021. After Russia launched a military operation in Ukraine in February and the West adopted several sanctions packages against Moscow, gas prices accelerated their rise, placing energy security high on both the global and national agendas and pushing many countries to resort to contingency measures.
The European Union announced a ban on the provision of services and insurance for Russian oil supplies around the world, as well as a partial embargo on Russian oil. On December 5, the EU's ban on seaborne imports of Russian crude oil to third countries, as well as the newly agreed price cap on Russian oil of $60 per barrel, went into effect.
