Russia’s gas industry is at a turning point, both politically and structurally. Gazprom is facing increasingly tough competition – internally in the shape of Russia’s independent gas players, and externally in the form of flexible, cheap, new LNG supply and future gas flows from the Caspian through Turkey to Europe. And with the recent dramatic fall in crude oil prices, Gazprom – and Russia as a whole – has been fundamentally challenged to remain competitive in spite of its largely oil-linked EU supply contracts. How can Gazprom meet these challenges? Gas Strategies discussed Russia’s future supply strategy with BP head of Russia and CIS economics Vladimir Drebentsov.
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