Russia beating US in LNG price war

Aggressive pricing is giving Russia a strong position in Europe’s competitive LNG import market, according to Platts

Russian LNG’s low price point is putting pressure on its competitors in the European LNG import market, attendees heard at the S&P Global Platts London Oil and Energy Forum yesterday. “Russian LNG cost into Europe is some of the cheapest LNG in the world. It can get into Europe for under $2/mn Btu,” says Samer Mosis, LNG senior analyst at S&P Global Platts. “Because of this price incentive, Russia became the second-largest supplier of LNG in Europe last year, beating Nigeria and pushing out other key suppliers including Algeria.” Russia exported 16mn t of LNG into Europe last year, sharply up from 7mn t in 2018. It was behind only Qatar, which exported 21mn t into the market, and ahe