Russia’s Asia focus could open gas markets for Mideast suppliers

Russian rhetoric in recent days has highlighted its strategic focus on Asia’s energy markets for future growth, which for Middle East natural gas exporters could mean tougher competition there but more opportunity in Europe.

Yesterday, Russia’s energy minister, Alexander Novak, used a closed-door session of energy officials attending the Asia Pacific Economic Cooperation meeting in Beijing to make pointed comments about Asia’s growth prospects, while also warning that the West’s sanctions could risk world energy security.

“Taking into account Europe’s stagnation and demand saturation in the United States, I can state with certainty that the Asia-Pacific role in the world energy industry will be only increasing,” Mr Novak said, according to Russia’s state news agency, Itar-Tass. Mr Novak noted energy policy in the West was often driven by politics, adding: “Not all are satisfied with Russia’s high status in the world energy industry. Often, in a bid to weaken our positions, these countries act even to the detriment of themselves … The less politicised Asia-Pacific markets are more attractive for us.”