Why Europe can’t do without Gazprom monopoly

The first batch of liquefied natural gas from the United States arrived in Portugal last week, but Gazprom is in no hurry to reduce its prices for European consumers.

While the European media welcomed the arrival of the USA to the European market, called America the factor that would change rules of the game and cancel the alleged monopoly of Gazprom, nothing will change in the short term.

Let's start with the fact that Gazprom is not the monopoly supplier of gas to Europe, although it is often called so. The Russian state giant actually supplies about a third of gas consumption in the region. A quarter is provided by Norway.