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Putin believes Europe will continue to buy LNG from US, although Russian gas is cheaper

The president noted that LNG supplies from the Middle East had been increased, but nevertheless due to the high gas prices from the United States, the profitability of European enterprises was falling and competitiveness was declining

MOSCOW, October 11. /TASS/. European countries will continue to purchase liquefied natural gas (LNG) from the United States, despite the fact that it is 30% more expensive than Russian gas, Russian President Vladimir Putin said at the Russian Energy Week.

"I think that [European countries] will continue purchases. Depending on how many contracts they conclude, it means they will have to purchase within the framework of existing contracts," he said. Putin clarified that European countries have doubled their purchases of LNG from the United States, which is 30% more expensive than Russian gas.

The president also noted that LNG supplies from the Middle East have been increased, but nevertheless, due to the high gas prices from the United States, the profitability of European enterprises is falling and competitiveness is declining.

Putin also said he believes that Ukraine does not transfer the entire volume of Russian gas to Western countries, but itself partially uses it.

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