Henderson James

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This Comment discusses the competitive position of Russian gas in a new lower price environment and examines whether a more actively competitive strategy can benefit both Gazprom and the Russian government in the short and long term. From a number of commercial and political perspectives the logical commercial answer could be yes, but only if Gazprom adopts a new contract model and also commits to trading on European hubs at spot prices in a more wholehearted fashion. Evidence for gradual moves in this direction are emerging and could accelerate in 2016, and although we do not expect Gazprom to actively catalyse a price war we do believe that market forces could lead to this outcome as a logical conclusion for a low-cost producer with significant supply flexibility.

Available at: http://www.oxfordenergy.org/2016/01/gazprom-is-2016-the-year-for-a-change-of-pricing-strategy-in-europe/