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Russia dominating the US in the battle for European LNG market

Russia dominating the US in the battle for European LNG market
Russia supplies about a fifth of Europe's liquefied natural gas (LNG) needs, which puts it well ahead of the United States, Energy Minister Alexander Novak has said.

The US share of LNG deliveries to Europe is currently around 13 percent.

"We have already notably outpaced the United States in terms of LNG supplies,” he said, noting that two-to-three years ago Russia practically did not supply LNG at all.

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“Our deliveries amount to almost 12-13 million tons due to the launch of new projects, whereas the US’ supplies in two years grew from 4-5 million tons to 9 million tons," he said.

According to Novak, the number of countries consuming LNG has doubled.

For more stories on economy & finance visit RT's business section

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