Forbes: Gazprom Says It Can Compete With U.S. LNG In Europe

Russian gas giant Gazprom told Barclays Capital recently that it can compete on price with the U.S. liquefied natural gas market in Europe, whenever it gets there.

The U.S. hopes to eventually make strides into Russia’s natural gas market in Europe, taking away market share from a politically volatile neighbor.

Former Soviet state Lithuania signed a non-binding agreement to purchase LNG from the United States this year. No delivery dates are set. Poland is also looking to the U.S. for future natural gas supply in order to reduce their dependence on Russia. Lithuania opened a floating import terminal last year and Poland plans to open one later this year.

But Gazprom told Barclays during an analyst visit last week that their piped in gas was still cheaper than U.S. imports.

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