Gazprom expects record LNG sales in Europe and poo-poos US competition
St Petersburg — Russia’s Gazprom expects record high gas sales this year in Europe, CEO Alexei Miller said on Friday, downplaying the threat posed by imports of US liquefied natural gas (LNG). Gazprom has managed to gradually increase its market share in Europe, its main market, to about 34%, despite the general aversion to Russian energy supplies, which became increasingly politicised following Moscow’s annexation of Crimea in 2014. Miller said on Friday that the Russian gas exports to Turkey and Europe outside of the former Soviet Union may exceed 205-billion cubic metres (bcm) this year, up from 194.4 bcm last year, also a record-high. "There are prospects and the prospects are related to falling domestic gas production in Europe, while demand for gas is rising," Alexander Medvedev, a deputy of Miller, told an AGM of Gazprom’s shareholders. "Gazprom has all the capacity to supply gas to Europe in the amount Europe needs." Analysts say sea-borne LNG supplies from the US may underm...
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