Europe import dependency is growing, and Russia is well placed to increase its gas exports owing to its world-class resource base and proximity to the region. But does this mean a significant increase in Russia’s piped exports to Europe? Not necessary. In this insight, we look at various long-term options for Russia gas exports growth and compare the feasibility of construction of additional pipelines versus development of new LNG projects. We look at regulatory, fiscal and corporate implications of different options, as well as analyse their competitiveness between each other and with key global rivals.