Putin warns that excluding Russia from the global gas market has a heavy price Russian President Vladimir Putin warned of major disruptions in global gas supplies and rising costs for countries abandoning Russian energy, in a speech at the Gas Exporting Countries Forum (GECF) conference in Moscow. Key statements: Russia holds the largest natural gas reserves in the world and remains one of the main players in the world market and a reliable supplier to foreign customers. Supply disappears from the market; Prices have risen but could fall just as sharply Attempts to cut Russia out of the global gas market have serious consequences, including higher costs for other countries Europe hurts its industry and social sector by rejecting Russian gas Natural gas already makes up about a quarter of the global energy mix, with its role in international trade expected to grow Global demand for gas is expected to reach 5.5 trillion cubic meters per year by mid-century, with international supplies of 1.7 trillion MK About half of global gas trade now consists of liquefied natural gas (LNG) Gas exporting countries need to strengthen cooperation, develop sovereign technologies and optimize global supply routes.

Putin warns that excluding Russia from the global gas market has a heavy price Russian President Vladimir Putin warned of major disruptions in global gas supplies and rising costs for countries abandoning Russian energy, in a speech at the Gas Exporting Countries Forum (GECF) conference in Moscow. Key statements: Russia holds the largest natural gas reserves in the world and remains one of the main players in the world market and a reliable supplier to foreign customers. Supply disappears from the market; Prices have risen but could fall just as sharply Attempts to cut Russia out of the global gas market have serious consequences, including higher costs for other countries Europe hurts its industry and social sector by rejecting Russian gas Natural gas already makes up about a quarter of the global energy mix, with its role in international trade expected to grow Global demand for gas is expected to reach 5.5 trillion cubic meters per year by mid-century, with international supplies of 1.7 trillion MK About half of global gas trade now consists of liquefied natural gas (LNG) Gas exporting countries need to strengthen cooperation, develop sovereign technologies and optimize global supply routes.