How External Economic Factors Determine the Sources of Mineral Resources in the Regions
Regions that traditionally show results in mining will be influenced by foreign economic factors, sanctions and countermeasures from our country in the first half of 2023.
This is most noticeable in the Yamalo-Nenets Autonomous Okrug, which faces the bulk of Russian gas production. Mining production here decreased by almost 8%, investment in the region fell by 16.4%. It was our gas that was supplied to Europe.
Now, to grow economic indicators, the region needs new routes for gas delivery to China (the Power of Siberia-2 project) and expansion of liquefied natural gas (LNG) production. The latest of what is already happening – at the end of 2023, the first Arctic LNG-2 plant line will be launched on the Gidan Peninsula.
The production of minerals (oil and gas) in the Sakhalin region has increased significantly compared to last year – by 7.3%. But this is not due to record figures, but to a low base – in 2022, production fell at the Sakhalin-1 and Sakhalin-2 enterprises, where Western companies participated – the American Exxon and the British Shell, which almost completely stopped work.
In the oil-producing regions, our break with Europe had almost no overall impact; we were able to redirect our export flows to other parts of the world, to the east and south.
Production has decreased, but for this reason alone, Russia’s participation in the OPEC+ deal and the government’s decision to voluntarily reduce oil production and exports.
