Putin's Russia Seen Dominating European Gas for Two Decades
- Energy majors see Russia shrugging off competition from LNG
- Gazprom’s gas sales abroad account for 10% of Russia’s exports
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Europe has wanted to wean itself from Russian natural gas ever since supplies from its eastern neighbor dropped during freezing weather in 2009. Almost a decade later, the region has never been more dependent.
Gazprom PJSC, Russia’s state-run export monopoly, shipped a record amount of gas to the European Union last year and accounts for about 34 percent of the trading bloc’s use of the fuel. Russia will remain the biggest source of supply through 2035, Royal Dutch Shell Plc said last week, echoing comments by BP Plc in January.