Gazprom predicts growth in LNG prices
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According to Gazprom, significant volumes of LNG will appear in Europe no earlier than 2025 – for now, no producer will be able to increase gas supplies to Europe as quickly as a Russian company will. Oleg Aksyutin, Deputy Chairman of the Board of Gazprom, believes that competition between Europe and Asia in the energy market will lead to an increase in LNG prices and less availability of the resource.
According to Mr. Aksyutin, the problem could be solved by launching the Nord Stream 2 gas pipeline. “At the same time, Europe, as now, will have to compete fiercely for these volumes with importers from Asian countries. As a result, the current conditions will lead to an increase in the shortage of LNG in the global gas market, which means to an increase in prices and even less availability for less solvent countries,” said a representative of Gazprom during the St. Petersburg International Gas Forum (quoted by RIA Novosti) .
Today Gazprom also reported on the decrease in gas exports to non-CIS countries (-38.8% compared to last year’s figures). The Russian company also reduced production volumes (-15.9% in annual terms).
About attempts to limit gas prices – in the material “Europe hits the ceiling”.
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