Russia Welcomes US LNG Supplies to Europe – Putin

Russia welcomes the liquefied natural gas shipments from the US to Europe as it will help boost healthy competition that will benefit all parties.

HAMBURG (Sputnik) — Russia views the deliveries of the US liquefied natural gas (LNG) to the region positively as it will boost competition on the market, Russian President Vladimir Putin said Saturday.

"I think that it is extremely positive as a healthy competition will benefit all. I am for the open market and for a robust competition," Putin said at a press conference following the G20 summit, referring to the US LNG supplies to Europe.

Putin noted that Russia’s competitive advantage over the United States in terms of LNG is obvious as the cost of production and deliveries of Russian LNG or pipeline gas to Europe is far less compared to US supplies.

The Russian president added that the emergence of such competitors as the United States on the European gas market will positively impact the work of the Russian companies as the competition would constantly give them impetus to perform better.

Putin added that US President Donald Trump during his address to the G20 summit voiced support of open and fair competition.

"By the way, when I was speaking, I supported this view. We are quite satisfied with open and fair competition, which is unaffected by politics and without the use of any political resources," Putin said.

In June, the White House said that the United States is determined to become be a global player in exporting LNG.