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Russian gas is 50% cheaper for Europe than US LNG — OMV CEO

August 02, 18:34 UTC+3 VIENNA

Earlier the Russian energy minister said LNG from the US is at least 30-40% more expensive than the pipeline gas from Russia

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OMV CEO Rainer Seele

OMV CEO Rainer Seele

© Sergei Karpukhin/Pool Photo via AP

VIENNA, August 2. /TASS/. The Russian pipeline gas is generally twice cheaper for European consumers as compared to liquefied natural gas (LNG) prices, Chief Executive Officer of Austria’s OMV Rainer Seele said at a press conference on Thursday.

"The price difference depends. The gas prices on European markets also changing, that is why there is a delta. But I think it is about 50% difference between LNG and Russian gas," the top manager said.

Russian Energy Minister Alexander Novak told reporters earlier that LNG from the United States for Europe is at least 30-40% more expensive than the pipeline gas from Russia.

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