Russian energy giant Gazprom’s Deputy CEO Oleg Aksyutin labeled the US as “the real winner of the energy crisis in Europe”, with its increased liquefied natural gas (LNG) shipments to the continent.
Speaking on the sidelines of the St. Petersburg International Gas Forum on Thursday, Aksyutin said that although European countries want more predictable natural gas prices, “a paradoxical situation” prevails in the market.
“Due to the highly volatile spot prices, the demand for long-term contracts is increasing and end consumers, including those in Europe, want to buy gas at predictable prices,” he said.
Aksyutin highlighted that the real winner of the energy crisis in Europe is the US as it has expanded its LNG shipments to the continent during the crisis.
The natural gas crisis in Europe “has several advantages, however, these advantages do not apply to European countries,” he said.
He warned that LNG shipments to Europe in significant volumes are impossible before 2025, and it will also have to compete with Asia for LNG.
“This will lead to supply shortages in global markets and increase the gas prices. No one but Russia can supply Europe with gas volumes comparable to the Siberian and Yamal sources while offering favorable supply conditions.”
Reporting by Emre Gurkan Abay
Writing by Sibel Morrow
energy@aa.com.tr