Gazprom Sees Cheap Gas Keeping European Buyers Hooked for Years
- Gas giant sees EU market share stable or rising by 2025
- U.S., Australia will send LNG mostly to Asia, America: Gazprom
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Russia will keep Europe hooked on its natural gas for years to come, using its huge reserves and lower production costs in Siberia to maintain attractive prices, according to state-run Gazprom PJSC.
The Moscow-based exporter, which supplied 34 percent of the European Union’s gas last year, sees its market share holding or rising slightly to about 35 percent by 2025 as production shrinks in the 28-member block, Gazprom management board member Oleg Aksyutin told investors in Singapore Tuesday. Pipeline supplies to Asia are set to begin in 2019 at the earliest.