Russian gas vs US LNG: Clash of the titans


We predict that 2017 will be a turning point for the global gas market. With new post-FID projects supplying the markets from Australia, the US and Malaysia, LNG supply is set to increase. US LNG exports are expected to hit 11mt in 2017, up from 4mt in 2016. 

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We caught up with Massimo Di Odoardo, VP of European Gas Research, before the end of 2016 to get his outlook on the impending competition between Russian gas and US LNG to be Europe's primary energy supplier. 


These increases will cause a major shift in the market. With insufficient demand in Asia, Europe is set to absorb much of the excess supply. We estimate that imports to north-west Europe will more than double, reaching 31 Mton. This means US LNG will be competing on price in Europe with cheaper Russian pipeline gas – and both of them will be vying to replace coal in the power market.

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Russia will face the decision to either leave some 25 bcm in the ground or compete more aggressively for market share. The scene is set for competition between cheap Russian gas vs US LNG, the new marginal supplier to Europe.

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