In 2023, Russia has significantly increased its oil product exports to African countries, boosting supplies by 3.5 times to reach 17.6 million tons, according to Dmitry Semenov, Director of the Department of International Cooperation at the Russian Energy Ministry.
"There is strong growth in terms of supplies—we increased by 3.5 times in oil products last year, reaching 17.6 million tons. While the low comparison base does play a role, this also contributes to our efforts to reorient our energy exports," Semenov said during a round table discussion at the State Duma.
Semenov highlighted that Russia and African countries are currently exploring nearly 40 potential joint projects in the energy sector. "We've identified promising projects in the energy sector, and this number has slightly increased since the Russia-Africa summit. Back then, we had around 30 projects; now, we're approaching 40. We've prioritized 14 countries. Our companies have a significant presence on the continent, involving projects in oil and gas, production, and transportation," he stated.
He also mentioned that Russia is working on expanding the use of gas in the energy sector of African countries and promoting gas motor fuel, with the involvement of the FSEG. Discussions are also underway on renewable energy projects. "There is a very strong focus on electric power. In addition to traditional energy facilities, we are offering our partners projects in alternative energy—solar and wind," Semenov explained.
However, he noted that constructing power generation facilities alongside industrial projects necessitates substantial financing on favorable terms, highlighting the complexity of ensuring reliable payments.
A year ago, Nikolai Shulginov, then head of the Russian Ministry of Energy, predicted that Russia would supply Africa with 18-20 million tons of oil products in 2023.
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Based on materials from TASS