Russian gas export strategy

From Russia’s standpoint, the issue of energy security in EU–Russia energy relations is overwhelmingly oriented towards security of supply.

The risk of US LNG presents a clear threat to Gazprom’s position in Europe, especially as gas from North America is being presented in some quarters as a political solution to the EU’s security of supply issues.

There is a distinct lack of a conception of energy security as security of exports and demand. Gazprom might consider a strategy to flood Europe with cheap gas in 2016 to kill off US LNG.

Gazprom can produce and export gas to Europe at a much lower cost than LNG from across the Atlantic, and this approach would mirror Saudi Arabia’s strategy of keeping oil production elevated in order to protect market share.