European attempts to replace Russian gas by LNG risk sparking gas crisis in Asia, Russia's Novak says

1 minute read

Russian Deputy Prime Minister Alexander Novak attends a session of the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, June 4, 2021. REUTERS/Evgenia Novozhenina/File Photo

Register now for FREE unlimited access to Reuters.com

MOSCOW, Feb 16 (Reuters) - Even a partial refusal by Europe of Russian pipeline gas in favour of liquefied natural gas (LNG) risks triggering another wave of gas crises in Asia, Russia's Deputy Prime Minister told an industry magazine on Wednesday.

In comments on recent spikes in energy prices globally, Alexander Novak also said that Europe should think of returning to long-term gas contracts to limit risks of deficit while adding that the launch the Nord Stream 2 gas pipeline should help stabilise the gas market.

Register now for FREE unlimited access to Reuters.com
Reporting by Oksana Kobzeva and Katya Golubkova; Editing by Toby Chopra

Our Standards: The Thomson Reuters Trust Principles.