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Will US LNG lure Gazprom into a price war in Europe?

Cheap supplies from across the Atlantic threaten the Russian firm’s position. How will it respond?

As the long-anticipated surge in global liquefied natural gas output approaches, an increasingly relevant question is how and if existing suppliers into key gas importing regions will react to a supply surplus. It's particularly pertinent for Europe, which is essentially the market of last resort for LNG thanks to its liberalised nature and significant spare regasification capacity. Extra LNG cargoes arriving in Europe will compete directly with pipeline imports to the region, the most important of which come from Russia, supplied uniquely by Gazprom. Its 31% market share is based on long-term contracts that provide flexibility, and this has historically provided European buyers with the op

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