Russia Has Room to Play Saudi Oil Game With EU Gas, VEB Says
- Russia has capacity to boost gas sales, lower prices, VEB says
- Gazprom said this month no need for `price wars' in Europe
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Russia has the capacity to target volumes over prices in its natural-gas sales, replicating Saudi Arabia’s oil strategy, according to state-owned Vnesheconombank’s chief economist.
The Saudis compete with other crude suppliers by boosting oil production and cutting prices, Andrey Klepach of VEB, as the state bank is known, said Friday. “We could play the same role in gas as we have the capacity for boosting gas exports and production,” he said in the Siberian city of Krasnoyarsk.