Gazprom fires first salvo in European gas war

Gas pipelines and LNG prepare to battle for market supremacy in Europe

Russia’s Gazprom is taking steps to protect its dominant position in the European gas market by nearly doubling its storage capacity over the next five years. The state-run Russian gas monopoly is laying down defences as it attempts to head off a fleet of liquefied natural gas (LNG) tankers looking to supply Europe. Russia is Europe’s largest gas supplier, meeting a quarter of its needs, but it faces increasing competition in the market with record LNG imports to the UK finding their way to European countries. Pipeline deliveries In response, Gazprom will increase its own direct supplies with the opening of the South Stream and Nord Stream pipelines and back them up by building huge gas-stor