The head of Gazprom confessed on Wednesday that the Russian energy giant had experienced a difficult year as the company sought new markets following the imposition of worldwide sanctions on Russia over its intrusion of Ukraine.

I wish to say right away that 2022, of course, has actually ended up being extremely, very hard, Alexei Miller said throughout an end-of-year conference as stress skyrocket between Russia and the West.Miller kept in mind a total change in the energy markets driven by the repercussions of Western sanctions on Moscow in response to President Vladimir Putins decision to send out soldiers to Ukraine.He firmly insisted, however, that Gazprom continued to run in a very well-coordinated manner.In 2021, Russiawas the European Unions largest gas supplier, however the bloc significantly lowered its imports from Russia in an attempt to wean itself off Russian energy imports following the start of the Ukraine conflict.Gazprom represent 11% of international natural gas production and has the biggest gas reserves in the world.The loss of its normal markets in Europe has actually led Gazprom to look for alternative markets, particularly in Asia.

Miller invited last weeks launch of the Kovykta gas field in Siberia, which he stated would considerably raise the businesss export capacity to China.

The Power of Siberia gas pipeline is now in operation throughout its entire length, more than 3,000 kilometres, Miller stated.