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Gazprom expects competition from US on gas market in future

January 13, 18:57 UTC+3 MOSCOW

The top manager also said that in the future Gazprom expects growth in gas consumption in Europe

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© Egor Aleev/TASS

MOSCOW, January 13. /TASS/. Russia’s Gazprom expects serious competition from the US on gas market in future, Deputy CEO of Gazprom Valery Golubev said at the Gaidar Forum on Friday.

He said that after the new US administration of President elect Donald Trump comes to power the country may try to boost domestic gas production.

"Competition may be strong. In future we see the main competition from the US first of all. If we speak about the US market, this is obvious. We don’t know what steps the new US administration will take but judging by the statements that have been already made it is very likely that they will try to build up production on their territory," he said adding that it applies both to natural and shale gas.

Together with new capacities for production of liquefied natural gas "this may create certain factors for the European market," Gazprom top manager said.

"According to our estimates, first of all it concerns not US domination on the EU market it is more about fighting for global gas market," Golubev said.

The top manager also said that in future Gazprom expects growth in gas consumption in Europe by 150 billion cubic meters and is getting ready for this, in particular by building new gas pipelines.

In 2016, Gazprom supplied 179.3 bln cubic meters to Europe which is a record volume of gas.

"They take Russian gas quite gladly," he said, adding that Gazprom’s long-term export contracts remain stable.

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