Increase of LNG share on market may untie gas price from oil price

Increased consumption of liquefied natural gas may contribute to the formation of prices for it without reference to the oil price. This was stated by head of Novatek Leonid Michelson.

"There is a small increase in the gas consumption in the world. A large proportion of this growth is provided by the growth of the LNG market. I think due to a large circulation of gas in the form of LNG gas, without reference to the pipeline transport, a new benchmark will be born, which will be almost not tied to the oil prices," - Michelson said.