EAEU reorients energy industry to the east amid crisis in Europe

MOSCOW, 13 Oct – PRIME. The crisis situation in the European energy market will not affect the Eurasian Economic Union, the association will reorient the energy industry to the east, Arzybek Kozhoshev, Minister for Energy and Infrastructure of the Eurasian Economic Commission, told RIA Novosti.

“This did not negatively affect us. Always, if some doors close, others open. Now, in general, the energy industry of the Eurasian Economic Union is directed to the east, and it will grow stronger. China is a big market, all our energy resources will be sold there,” — Kozhoshev said on the sidelines of the Russian Energy Week.

The minister added that the policy of European countries to refuse Russian energy resources would negatively affect their economic situation.

“Of course, over the past six months, prices in Europe have increased very much. That is, if they previously received gas through Nord Stream at consistently low prices, now the price has increased, it even reached the line of more than three thousand dollars. This suggests that that the citizens of the European Union this year will really feel for themselves how much these events that are taking place now in the world have a negative impact on them in economic terms,” ​​the minister explained.

Russian Energy Week takes place in Moscow from 12 to 14 October. RIA Novosti acts as an information partner of the forum.