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European energy policy shortsighted — Gazprom CEO

Europe has lost the battle for Asia’s liquefied gas, Gazprom CEO Alexey Miller says

Gazprom CEO Alexey Miller ITAR-TASS/Sergei Fadeichev

Gazprom CEO Alexey Miller

© ITAR-TASS/Sergei Fadeichev

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Russia capable of meeting growing demand for gas in Europe and China — Gazprom CEO

SOCHI, September 19. /ITAR-TASS/. Europe’s energy policy is shortsighted and unwise, Alexey Miller, the CEO of Russia’s gas giant Gazprom, said on Friday.

“Europe has lost the battle for Asia’s liquefied gas,” he said, referring to a recent 30-year gas contract with China.

He noted that growth rates of the Russian gas industry were higher than those in Europe. More to it, in his words, the European Union lacked a long-term strategy and market positioning. He said he was confident that Russia’s share on the European gas market would increase in a span of ten years. “I am absolutely confident that our presence on the European market will only grow,” he said.

According to Miller, Gazprom's share on the European Union’s gas market had increased from 23 to 30% over the past four years while the share in European import had gone up by 17% to reach 64%.

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Oil & Gas Gazprom Energy security

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