Gazprom's clipped wings abroad
New competitors are hurting Gazprom’s export strategy, which is also suffering from the Kremlin’s foreign adventurism
GAZPROM is fighting fires on several fronts as the Kremlin’s increasingly belligerent foreign policy makes it harder for the energy giant to protect its market share. The firm is trying to shrug off the imminent arrival of US exports in Europe – and showing its staying power, recouping some market share surrendered in the region between 2012 and 2015. At the same time, signs that China’s appetite for Russian gas may be dimming as geopolitical disputes with Ukraine and Turkey make transit and growing overseas sales harder for Gazprom. Gazprom, which provided 31% of Europe’s gas supply last year, or about 250bn cubic metres, surprised the market after disclosing in May that shipments to Europe
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