Russia and Sri Lanka are negotiating an LNG terminal
Russia and Sri Lanka have started discussions on the joint construction of an LNG terminal that will help Moscow find new markets for liquefied natural gas for sanctioned projects. This has been reported by Russian media.
«Negotiations have started, especially after the visit of the minister. Discussions have begun, preliminary negotiations are ongoing... Proposals have been submitted», said the Sri Lankan ambassador to Russia, Shobini Gunasekara.
Russia is seeking new markets for liquefied natural gas for sanctioned projects after the European Union refused to import gas from the Russian Federation by November 2027.
Analysts believe that the construction of Russian terminals in countries willing to receive LNG from the Russian Federation may help establish gas supplies bypassing sanctions.
Falling budget revenues in the Russian Federation from resource sales
According to the results of December, revenues from the sale of energy resources to the budget of the Russian Federation may almost halve compared to last year, amounting to about 410 billion rubles ($5.17 billion). The main reasons for this decline were the cheapening of crude oil and the strengthening of the Russian ruble.
The European Union has agreed on the rules for a phased phase-out of Russian gas imports
On December 3, the European Union made a decision to phase out imports of Russian natural gas. If the document is approved by the EU Council and the European Parliament, a complete ban on its supply will be implemented by the end of 2027. The regulation also provides for fines for violations of the rules and the possibility of temporarily suspending the ban in case of an emergency threat to the energy security of individual states.
The document will come into effect after formal approval by the EU Council and the European Parliament.
Russia is negotiating with Sri Lanka on the construction of an LNG terminal to find new gas markets in the context of sanctions and import refusals from the EU. The decline in revenues from the sale of energy resources in the Russian Federation and the EU's agreement to refuse Russian gas highlight the complexity of the situation in the energy market and the search for alternative ways to supply gas.