BRUSSELS, May 14 (RIA Novosti) – Potential US exports of liquefied natural gas (LNG) to Europe would not suffice to meet the EU’s growing energy needs, the deputy chairman of the energy committee in Russia’s lower house of parliament said Wednesday.
“As of today, practically the only potential supplier of LNG to the EU is the United States, where the volumes of gas extraction exceed domestic energy demand,” Pavel Zavalny said from Brussels during a conference on EU-Russia energy dialogue.
“But the export of American LNG, even if allowed in the nearest future, can turn out to be economically unprofitable and is unlikely to cover Europe’s growing demand for gas imports,” he said.
Zavalny added that “the price of American gas for Europe will stand at $450 per cubic meter, which is by no means cheaper than Russian gas.”
The prospects of LNG supplies to Europe have recently been in the media spotlight as the US has been pushing for Europe to move toward independence from Russian energy imports given the current geopolitical tensions over Ukraine.
Russian EU envoy Vladimir Chizhov earlier said that the European market for US gas is unlikely to yield big profits, as Europeans would have to raise prices to withstand competition from Asia, adding to the confidence that Russian gas will continue to hold a secure position in Europe.
