Related Articles
Forward article link
Share PDF with colleagues

US using cheap gas to prop up economy, says Medvedev

Gazprom's deputy chairman claims the US government is keeping domestic gas prices low in order to stimulate its economy

The US government is keeping domestic gas prices lower than the rest of the world in a bid to stimulate its economy, Gazprom’s deputy chairman Alexander Medvedev claimed in a keynote address. Earlier this year, US gas prices fell to 10-year lows of under $2.50 per million British thermal units (Btu) after a huge ramp-up in the country’s shale-gas production depressed prices. Asian prices, meanwhile, have climbed to around $18/m Btu, driven by Japanese demand after it shut its last nuclear reactor on 5 May. European prices are around $9/m Btu. “Prices in East Asia are significantly higher than the European level, not to mention American prices, which are actually behind a protective barrier

Also in this section
Venezuela going for broke
16 January 2018
The Maduro government wants a new deal on its debt. Things are going to get messy
Iraqi Kurdistan sinking fast
11 January 2018
The future of the KRI's oil sector is uncertain, with the federal government determined to bring all the country's production and exports back under its wing
Iraqi Kurdistan's wrong turn
11 January 2018
Burdened by political and economic crises at home, the autonomous region faces difficult talks with a newly confident federal government in Baghdad