OREANDA-NEWS  Over the past few years, Russian exporters have managed to redirect about 30-40 percent of gas supplies from Europe to other markets. Deputy Prime Minister of the Russian Federation Alexander Novak announced a sharp change in the geography of supplies of this type of fuel, Kommersant quotes him as saying.

At the same time, he did not specify which countries a significant part of Russian gas exports is now being sent to. Novak also added that the lost fuel volumes have so far been compensated "not fully." "Not in full, but partially these volumes have already been compensated," the Deputy Prime Minister concluded.

He explained that Russian gas supplies to the countries of the Global South have increased significantly recently. In addition, next year it is planned to bring the Power of Siberia pipeline to a design capacity of 38 billion cubic meters. Fuel supplies from Russia to China are carried out in this direction.

Earlier, Novak predicted a sharp increase in global gas demand by 2050. According to his expectations, in the next 26 years, global interest in this type of fuel will increase by a total of about 35 percent to the current level. As for oil, global demand for raw materials during this period will grow by 1-2 percent annually and will reach 120 million barrels per day by 2050.