USA will never overtake Russia in gas supplies to the EU market, says Miller

© RIA Novosti / Alexei Danceparty in fotoreceptor of the Board of JSC Gazprom Alexei Miller at the meeting of shareholders of JSC Gazprom in Saint Petersburg. 29 Jun 2018USA will never overtake Russia in gas supplies to the EU market, says Miller© RIA Novosti / Alexei Danceparty the image Bank

The US will never catch up and overtake Russia in gas supplies to the European market, the price of pipeline gas will always be lower than their LNG, said the Chairman of the Board «Gazprom» Alexey Miller.

«America will never catch up and overtake Russia in the supply of liquefied natural gas to the European market. And the reason is actually that the key for consumers is the issue price and the issue of security of supply,» said Miller at a press conference.

«What concerns prices, the price of pipeline gas will always be lower than the prices of LNG and, in particular, the price of LNG from North America. The reason is that our mines, our gas production is located much closer distance than North America…. The distance that we have to the European market from our production centers that allow the Russian pipeline gas will always be competitive on the European market,» he added.

Miller also stressed that at the moment the price of us LNG is much higher Russian. «In the current time period, you know that the price of American LNG — they’re just in the tens of percent times higher than the price of Russian pipeline gas. And share today the us LNG it is just miserable on the European market, only about half a percentage point», — he said.

«But what concerns the overall perspective, I say again, America will never catch up and overtake Russia in this matter,» concluded Miller.

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