OREANDA-NEWS.On March 11, WTC Moscow’s General Director Vladimir Salamatov spoke at the conference “Technology vector of development and innovative potential of the Russian oil and gas industry in the present-day economic environment: Import substitution and production localization programs.” The conference, a special project of the National Oil and Gas Forum, was held within the framework of the Russian Business Week 2015, sponsored by the Russian Chamber of Commerce and Industry.

Vladimir Salamatov has presented WTC’s data on the impact produced by the sanctions (restrictions) imposed by Western countries July 31, 2014 o supplies of technological equipment for the Russian oil and gas industry.  WTC’s ongoing monitoring (its first results were presented in October at the Second National Oil and Gas Forum) shows that until now there have been no sharp decline in deliveries of equipment from the countries that have imposed the sanctions — in view of long-terms contracts and a series of other factors.

According to WTC’s General Director, the most interesting thing is that the structure of those deliveries has not undergone crucial changes. On the whole, compared to 2013, delivery volumes of equipment on the sanction list declined 25% in monetary terms, from \$2.062 bln to \$1.523 bln. In physical terms, deliveries from the countries that have imposed the sanctions have dwindled by approx. 10%.

At the same time, other countries have substituted some deliveries of that equipment to Russia since August 2014. Thus, we can state that there has been no technology setback which might have seriously and in a negative way affect our industries.

Vladimir Salamatov emphasized that Belarus has launched assembly lines to manufacture some types of equipment and has set up excellent economic conditions to deliver that equipment to Russia. Compared to the period of 2013—2014, continental China has increased deliveries in a significant way — by 8%.

“A detailed analysis of export and import operations shows that the countries that have not imposed sanctions, will be able largely to dampen the negative effect from the sanctions that have been imposed, even taking into account all the difficulties and complications, and notwithstanding a long cycle of making new equipment ready,” summarized Vladimir Salamatov.