Report: Reliance on imported oil equipment to fall to 43% in 2020

MOSCOW, Jan 10 (PRIME) -- Russia’s reliance on imported oil and gas equipment will fall to 43% in 2020 from 45% in 2019, Minister of Industry and Trade Denis Manturov said in an interview with the Energy Ministry’s Energy Policy magazine, released on Friday.

“According to the plan, approved by the Industry and Trade Ministry basing on the government’s decisions, the oil and gas industry’s reliance on imported equipment will decrease from 45% this year to 43% at the end of 2020,” Manturov said, adding that the level amounted to 60% in 2014.

The minister also said that state subsidies for development of oil and gas machinery will amount to over 30 billion rubles until 2024.

The ministry and gas giant Gazprom have received a total of 3.5 billion rubles for joint development of a technology for offshore hydrocarbon production, Manturov also said, adding that energy companies Lukoil, Gazprom and Rosneft jointly need around 300 elements of the offshore equipment developed under the program.

The three companies plan to cooperate in creation of technologies and equipment for liquefied natural gas (LNG) production, the official also said.

“The agreement envisages supplies of Russia-made equipment, created under a new research support program, which will be implemented from 2020,” he added.

Manturov also said that additional benefits granted to foreign LNG carriers may hurt competitiveness of locally-made vessels.

(61.2340 rubles – U.S. $1)

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