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Gazprom Sees No Need for Gas Price War in Europe Over US LNG

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Gazprom Deputy Chairman Alexander Medvedev said that Gazprom does not have the need to start a "price war" over US deliveries of liquefied natural gas.

LONDON (Sputnik) – Russia’s energy giant Gazprom sees no need to start a “price war” in the European market over US deliveries of liquefied natural gas, Gazprom Deputy Chairman Alexander Medvedev said Thursday.

“We don’t have the need to start a price war. If the base cost of American LNG drops, then we’ll have to use our reserves and cut spending, though our current spending in extraction, transportation, and marketing are the lowest,” Medvedev said on the sidelines of Investor Day in London.

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