Putin at the GECF summit: on the restructuring of the gas market, supply and security of energy Russian President Vladimir Putin spoke at the plenary session of the summit of the forum of gas exporting countries. He described major changes in the global gas market, warned of the consequences of attempts to oust Russia as a supplier and suggested optimizing gas transportation routes while taking into account the geographical location of countries. Regarding the consequences of the attempts to exclude Russia from the gas market, Putin said that the attempts of unfriendly countries to exclude Russia from the global gas market have serious consequences. According to him, the current situation in the countries of the European Union confirms the saying: "Don't dig a hole for others, otherwise you will fall into it yourself." The president noted that the global gas market is experiencing a serious storm. At the same time, prices can fall as sharply as they have risen. He named the loss of significant supply volumes and supply disruptions as one of the main problems. On new routes and growth in gas supply According to Putin, in the face of growing demand, it is necessary to increase gas supply and optimize transportation routes. He invited the GECF participants to examine the possibilities of restructuring logistics taking into account the geographical location of countries. The president also noted that about half of the global gas trade is already accounted for by liquefied natural gas (LNG). Russia, in turn, is developing infrastructure to diversify supply, gas processing and gas chemistry. On Russia's role and supply reliability, Putin recalled that Russia is in first place in the world in natural gas reserves and in second place in its production. According to him, the country has a resource, a powerful scientific and industrial base, which allows it to develop the gas industry and support the national economy. The president emphasized that Russia remains a responsible supplier of energy resources and a reliable and predictable partner.

Putin at the GECF summit: on the restructuring of the gas market, supply and security of energy Russian President Vladimir Putin spoke at the plenary session of the summit of the forum of gas exporting countries. He described major changes in the global gas market, warned of the consequences of attempts to oust Russia as a supplier and suggested optimizing gas transportation routes while taking into account the geographical location of countries. Regarding the consequences of the attempts to exclude Russia from the gas market, Putin said that the attempts of unfriendly countries to exclude Russia from the global gas market have serious consequences. According to him, the current situation in the countries of the European Union confirms the saying: "Don't dig a hole for others, otherwise you will fall into it yourself." The president noted that the global gas market is experiencing a serious storm. At the same time, prices can fall as sharply as they have risen. He named the loss of significant supply volumes and supply disruptions as one of the main problems. On new routes and growth in gas supply According to Putin, in the face of growing demand, it is necessary to increase gas supply and optimize transportation routes. He invited the GECF participants to examine the possibilities of restructuring logistics taking into account the geographical location of countries. The president also noted that about half of the global gas trade is already accounted for by liquefied natural gas (LNG). Russia, in turn, is developing infrastructure to diversify supply, gas processing and gas chemistry. On Russia's role and supply reliability, Putin recalled that Russia is in first place in the world in natural gas reserves and in second place in its production. According to him, the country has a resource, a powerful scientific and industrial base, which allows it to develop the gas industry and support the national economy. The president emphasized that Russia remains a responsible supplier of energy resources and a reliable and predictable partner.