Eastern Economic Forum in Vladivostok: Statements by Putin and Miller
The Russian authorities and the president of Gazprom spoke during the Eastern Economic Forum in Vladivostok.
Quick Look
The Eastern Economic Forum is taking place in Russia, during which Vladimir Putin and the president of Gazprom, Alexei Miller, spoke, commenting on gas supplies in Europe and the economic situation.
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Why It Matters
The Eastern Economic Forum is held annually in Vladivostok as a platform for Russia's economic promotion.
The Eastern Economic Forum started in Vladivostok, Russia on the campus of the Far Eastern Federal University on September 1. It will last until September 4. The main theme of this year's propaganda event is "Far East: Development for the benefit of people." The forum is organized - with the support of the Russian government - by the Roskongress Foundation, which aims to "build a positive economic and political image" of Russia in the international arena.
Gazprom's president on "European gas reserves"
At the last session, the president of Gazprom spoke and replied, among other things: to the question about European gas reserves.
Winter will come to Europe - said Alexei Miller with a subtle smile when asked whether Europe has enough fuel for the upcoming winter season.
What gas reserves does Europe actually have according to Gas Infrastructure Europe?
Natural gas reserves in EU warehouses amount to 65%. compared to the 5-year average at this time of 82.4%. Calculations by Gas Infrastructure Europe show that there are 739.15 TWh of gas in storage. This is what the situation looks like in individual countries:
in Poland, there are 34.60 TWh of fuel in gas storage facilities, and their filling is 93.9%. compared to the 5-year seasonal average of 94.9%,
in Germany, gas storage facilities are currently 53.3% full, and the 5-year average is 80.8%,
in France it is 71.7 percent. with a 5-year average of 88.2%,
in Italy, warehouses are filled with gas at 83.2%,
in Austria 67.0 percent,
in Spain 73.5 percent,
in the Netherlands, the filling of storage facilities with gas is currently 47.7%, and the 5-year average so far is 75.4%.
Hungarians have gas storage facilities 69.5% full,
Czechs in 70.8 percent
Putin: Russia's budget deficit "is not critical"
Today, in the morning Polish time, Vladimir Putin delivered a speech.
We have one of the lowest public debt ratios in the world. There is nothing critical about the deficit. We are trying to act carefully and scrupulously so as not to overload the financial system, especially private banks, he said.
Indonesian President Prabowo Subianto, Mongolian Prime Minister Nyam-Osoryn Uchral, Myanmar First Vice President Nyo Saw and Chinese Vice Premier Ding Xuexiang also spoke.
Putin called Indonesia a key partner of Russia in Southeast Asia and said the countries were developing cooperation in the fields of information technology, agriculture and industry. He recalled that the countries had signed a free trade agreement.
We have been connected by bonds of friendship for years. Trade is developing and growing. Last year it increased by over 12%. - said Putin.
In his speech, he called for intensifying the search for mineral resources in the eastern and northern regions of the country, including the Arctic. He stated that Russia must "strengthen the very foundations, i.e. the raw material base", by increasing the number of geological research. He pointed to significant resources of copper, coking coal, zinc, iron ore and gold, as well as crude oil, natural gas and rare earth metals. He also emphasized that raw materials should increasingly be processed on site.
Open Questions
- What will gas supplies actually be like in the winter season?
- Will Russia implement its mining plans in the Arctic?







