March 2016, Vol. 243, No. 3

In The News

Gazprom Says It’s Not Worried About U.S. LNG Competition

Gazprom doesn’t plan a “price war” against U.S. exports of LNG to its profitable European market, a company official said Feb, according to the Wall Street Journal. U.S. LNG sellers will find it hard to compete in Europe with Russian gas under current market conditions, Gazprom’s deputy chairman Alexander Medvedev told an investor meeting in London. U.S. gas must be liquefied, shipped and turned back into gas, costing more than Russia’s pipeline gas deliveries. “There is no need for us to launch any price war,” Medvedev said. “We are very relaxed about U.S. LNG, though very attentive.” He said if U.S. LNG prices did fall, Gazprom would seek to cut its own costs. European governments have be

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