Gazprom not afraid of “the shale bubble” in Europe

Gazprom believes in the prospects of European market for Russian pipeline gas and says, shale gas from the USA will be too expensive to be a good competitor, top managers of Russian gas holding claimed at international forums in Brussels and Amsterdam on Thursday.
Europe is the main consumer of Russian gas, though last year the purchases reduced due to the economic crisis. In 2012 Gazprom reduced gas export to Europe by 7.5% - to 138.8 billion cubic metres.

Nevertheless, in April the Head of Gazprom Aleksey Miller claimed, this year Gazprom is going to export more than 150 billion cubic metres (the level of the previous year) to Europe.

“We have no doubt that Europe will need additional gas… We are ready to supply as much as Europe needs or wants”, deputy Head of Gazprom Alexander Medvedev said at the international energy conference in Brussels.

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