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Novak assumes price of US LNG at least 30-40% higher than of Russian pipeline gas for EU

May 26, 18:51 UTC+3 MOSCOW

Russia’s Energy Minister adding that the US LNG is "uncompetitive as of today"

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MOSCOW, May 26. /TASS/. The price of liquefied natural gas (LNG) from the United States for Europe is at least 30-40% higher than that of Russian pipeline gas, Russia’s Energy Minister Alexander Novak said in an interview aired by RBC business news channel at the St. Petersburg International Economic Forum.

"The United States wants Europe to buy the US liquefied natural gas, the price of which is at least 30-40% higher," he said, adding that the US LNG is "uncompetitive as of today."

President Vladimir Putin said on Friday that Russian pipeline systems linked to consumers in Europe do not have competitors. "All our pipeline systems connected to main consumers in Europe do not actually have competitors if Europe certainly wants to remain competitive and does not want to buy at an exorbitant price from some other producers," he said.

SPIEF-2018 completes its work on May 26. The forum’s events are held under the motto: "Creating the Economy of Trust." TASS news agency is acting as an information partner and the official photo hosting agency of SPIEF. TASS is also the operator of the zone of SPIEF’s presentations with the support of EY consulting company and the Advisory Council on Foreign Investments in Russia.

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