US using cheap gas to prop up economy, says Medvedev
Gazprom's deputy chairman claims the US government is keeping domestic gas prices low in order to stimulate its economy
The US government is keeping domestic gas prices lower than the rest of the world in a bid to stimulate its economy, Gazprom’s deputy chairman Alexander Medvedev claimed in a keynote address. Earlier this year, US gas prices fell to 10-year lows of under $2.50 per million British thermal units (Btu) after a huge ramp-up in the country’s shale-gas production depressed prices. Asian prices, meanwhile, have climbed to around $18/m Btu, driven by Japanese demand after it shut its last nuclear reactor on 5 May. European prices are around $9/m Btu. “Prices in East Asia are significantly higher than the European level, not to mention American prices, which are actually behind a protective barrier o
Also in this section
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
