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Gazprom: US LNG not a competitor in Europe

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LNG Industry,

The Board of Directors of Gazprom has issued a statement claiming that US LNG does not pose a threat to its gas exports to Europe.

During a recent meeting that discussed the development prospects for the LNG sector, Gazprom said that US LNG “was losing” against the company’s pipeline gas. A statement from Gazprom continued: “Based on current estimates and projections, Latin America may become one of the main markets for US LNG in the medium and long-term. In fact, most of US LNG was supplied to Latin America between March and September 2016.”

Gazprom also confirmed that one of its top priorities is to increase the LNG share in its portfolio in order to expand its sales geography, in addition to increasing gas exports.

At present, Gazprom is implementing the project for the construction of the third train of the Sakhalin II LNG plant and the Baltic LNG project.

The company said that it will continue to monitor the development of the shale gas and LNG sectors around the globe.

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