Related Articles
Forward article link
Share PDF with colleagues

Medvedev: ‘US using cheap gas to prop up 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/million Btu, driven by Japanese demand after it shut its last nuclear reactor on 5 May. European prices are around $9/million Btu. “Prices in East Asia are significantly higher than the European level, not to mention American prices, which are actually behind a protective barrier of government policies aimed at using natural gas as a means to restart the American economy,” Medvedev said.  He added that it was the US policy to become self sufficient in hydr

Also in this section
North Sea oil's rock hoppers
19 January 2018
Shell is happy to give the Penguins project a helping hand
Latest licensing rounds
19 January 2018
The industry's most comprehensive list of current and recent rounds for onshore and offshore licenses
Guyana—at the frontier
19 January 2018
ExxonMobil and its partner are racing ahead with their major Liza discovery in Guyana, at Latin America's exploration frontier. Others are struggling to replicate the success