Gazprom official: US LNG dominance triples gas prices in Europe

Gazprom's LNG marketing director Aleksey Polous stated that 60 percent of Europe's LNG imports come from the US, and natural gas prices have tripled compared to the period when Russian gas was heavily supplied. Polous emphasized that the US share exceeds 90 percent in Germany's LNG imports.

Scraper SystemJuly 28, 2026, 12:04 PM

Gazprom official: US LNG dominance triples gas prices in Europe

Gazprom's LNG marketing and trading director Aleksey Polous, speaking at the IndoPacific LNG Summit 2026 in Indonesia, made striking assessments regarding Europe's energy security. Polous noted that claims that liquefied natural gas (LNG) is more reliable than pipeline gas in Europe do not reflect reality.

Recalling that Europe's past dependence on Russian gas was criticized, Polous explained that today 60 percent of the continent's LNG imports come from the US. He emphasized that in Germany, this rate exceeds 90 percent.

Pointing to this US dominance in the European LNG market, the Gazprom official said, 'Natural gas prices have risen to a level three times higher compared to the period when significant amounts of Russian gas were supplied to the European market.'

Polous stated that LNG shipments could be affected by possible disruptions at production facilities and transit risks in strategic straits and canals such as Hormuz, Malacca, Bab el-Mandeb, and Panama. He also noted that Qatar has long been one of the leading suppliers in the global LNG market.

Before the Ukraine war, Gazprom was Europe's largest natural gas supplier, having increased its market share on the continent to 40 percent by 2022 through nearly 50 years of pipeline investments. The company, which lost customers to suppliers such as the US, Qatar, and Norway due to sanctions, supplied approximately 18 billion cubic meters of natural gas to Europe in 2025. This volume was at 201.7 billion cubic meters in 2021.

Source: Anadolu Ajansı

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