How US gas exports to Europe are undermining Vladimir Putin
Contributor: Tom Rogan
Russia's energy giant Gazprom isn't very happy with its energy competitors in the United States. The reason? Expanding U.S. liquid natural gas exports to Europe, which is good news for the U.S. and its European allies but not for Gazprom and its Kremlin masters.
Speaking on Monday, Elena Burmistrova, head of Gazprom exports, explained why the end of the coronavirus pandemic offers little cause for optimism. "One of [the challenges] is general oversupply, which we are likely to see in 2021 as well."Burmistrova continued, “U.S. LNG suppliers have unbalanced the European market and failed to stabilize it." That's another way of saying that competition and increased supply drive down prices.