ESFEErrored Second, Far End
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The exploitation of gas resources in the ESFE is underpinned by the notion of sustainability, which implies that natural gas and associated resources need to be developed efficiently.
Massive development of new oil and gas deposits in the ESFE may allow Russia to diversify its energy exports.
Henceforth, Rosnfet's exports have been growing steadily, parallel to the outputs from the greenfields in the ESFE.
In the past, the largest deals were supported by China's upfront payments, which allowed Rosneft to finance the development of new oil deposits in the ESFE.
Japan favors Russia's ESFE oil over the Middle Eastern blends for its higher quality (light oil), shorter delivery time, lower transportation costs and security of the sea lanes.
74) In Asia, Russia favors the APEC's initiative for Regional Comprehensive Economic Partnership (RCEP) linking it with the possibilities for the ESFE socio-economic development.
Taking into account such a structure of the sector and the fact that the gas segment undergoes the most remarkable developments, as well as keeping focus on the ESFE, this section centers on Rosneft, Gazprom and Novatek; more precisely, on their business strategies and competition among them as regards the Asian markets.
Affected by the sanctions, as has been explained above, Russian producers additionally face financial restraints and a lack of access to cost-efficient and technology-effective solutions, which are necessary for the development of the new projects in ESFE.
With already announced the delay (till 2021) and yet the time required to reach the PoS' projected capacity, China still stands to become the first recipient of Russia's new pipeline gas supplies from the ESFE.