Gazprom expects tough competition from US LNG exports to Europe
U.S. exports of liquefied natural gas (LNG) to Europe will be the main competition for Gazprom this year, the Russian gas giant said, in an abrupt change of tone toward gas supplies from the United States.
“It is obvious that LNG will be the main rival in the battle for the European consumer,” Sergei Komlev, head of contracts structuring, said in comments published in Gazprom’s magazine on Thursday.
Gazprom has previously dismissed concerns that U.S. LNG supplies to Europe could have an impact on its business, with officials saying that Russian gas will always be cheaper than imports from the United States.
U.S. LNG has flooded Europe since October last year, reshaping gas flows on the continent and leading to high storage levels and narrower price spreads.
Reporting by Oksana Kobzeva; Writing by Andrey Ostroukh; Editing by Kirsten Donovan
- Freeport LNG export plant in Texas reports shutdown of liquefaction train
- TotalEnergies and Mozambique announce the full restart of the $20-B Mozambique LNG project
- Five energy market trends to track in 2026, the year of the glut
- RWE strengthens partnerships with ADNOC and Masdar to enhance energy security in Germany and Europe
- Venture Global wins LNG arbitration case brought by Spain's Repsol
Comments