Russian gas predicted eternal dominance on the European market

The Secretary General of the Forum of gas exporting countries forum Mohammad Hossein Adeli has said that the liquefied gas supplied to Europe from the United States will not be able to replace European consumers of blue fuel from Russia. He told about it in interview to the newspaper Handelsblatt on Sunday, September 10, reports TASS.

“I don’t understand the skepticism in the European Union relative to the “Nord stream-2″. Europe will continue to need Russian gas. US influence on the European gas market is still very small. And the United States, due to the limited export potential, will never be able to replace gas supplies to Europe from Russia,” he said.

On 7 August, the Agency S&P said that due to the introduction of United States ‘ new anti-Russian sanctions on the European gas market is growing uncertainty. “If the sanctions will lead to significant delays in the construction of new pipelines or cancellation of these projects (which is not in line with our baseline scenario), this may result in an increase in gas prices, the increasing risk of disruptions in supplies of Russian gas and increase the utilization of the storage capacity of liquefied natural gas,” according to the Agency.

On 2 August President of the United States Donald trump signed a law on new anti-Russian sanctions. The document, in particular, provides a reduction of up to two weeks maximum term of financing of banks, which are under sanctions, and 30 days — for oil and gas companies.

In addition, according to the document, the American leader can take action against companies that plan to invest in the construction of export pipelines over five million dollars a year or a million at a time. The law States that the United States will seek to prevent the construction of “Nord stream-2”.

The project “Northern stream-2” involves the construction of two lines with a total capacity of 55 billion cubic meters of gas per year from Russia via the Baltic sea to Germany. The new pipeline will be laid alongside the already existing “Northern stream”.