European Energy Policy Shortsighted: Gazprom CEO

European Energy Policy Shortsighted: Gazprom CEO

Europe’s energy policy is shortsighted and unwise, Alexey Miller, said the CEO of Russia’s gas giant Gazprom.
“Europe has lost the battle for Asia’s liquefied gas,” he said, referring to a recent 30-year gas contract with China.
He noted that growth rates of the Russian gas industry were higher than those in Europe. More to it, in his words, the European Union lacked a long-term strategy and market positioning. He said he was confident that Russia’s share on the European gas market would increase in a span of ten years. “I am absolutely confident that our presence on the European market will only grow,” he said.
According to Miller, Gazprom's share on the European Union’s gas market had increased from 23 to 30% over the past four years while the share in European import had gone up by 17% to reach 64%.

China and Russia signed a $400-billion gas supply deal in May, opening up a new market for Moscow as it risks losing European customers over the Ukraine crisis
"Gazprom plans to sign a contract to supply China with 30 billion cubic meters of natural gas via western route over thirty years,” Gazprom’s CEO Alexei Miller was quoted by ITAR-TASS as saying last week.
Construction of the China- Russia East Route natural gas pipeline started this month in the eastern Siberian city of Yakutsk.


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