Gazprom’s monopoly comes to an end
World energy market experts proclaimed last week the beginning of the end of Gazprom’s monopoly in the European gas market. The reason for such an audacious thesis was the first shipment of liquefied natural gas (LNG) from the US state of Louisiana, which arrived in the Portuguese port of Sines on April 26th 2016. The United States was unable to export raw material for many years, but an oversupply in its internal market has led to a significant reduction in prices and therefore resulted in the deterioration of the financial condition of companies engaged in gas extraction. Barack Obama's consent to export natural gas means there is a de facto full mobilisation of all six American gas ports (three are still under construction).
April 29, 2016 - Grzegorz Kaliszuk
