Russian energy giant Gazprom鈥檚 Deputy CEO Oleg Aksyutin labeled the US as 鈥渢he real winner of the energy crisis in Europe鈥�, 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, 鈥渁 paradoxical situation鈥� prevails in the market.
鈥淒ue 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,鈥� 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 鈥渉as several advantages, however, these advantages do not apply to European countries,鈥� 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.
鈥淭his 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.鈥�
Reporting by Emre Gurkan Abay
Writing by Sibel Morrow
energy@aa.com.tr