Bloomberg: Gazprom Trips in India as Shale Upends Asia Gas Markets: Energy
OAO Gazprom, the world’s largest natural-gas exporter, is struggling to get a foothold in the Asian markets leading global economic growth.
The Russian company’s plan to supply liquefied natural gas to India from 2016, the year the U.S. is set to start gas exports, is faltering after buyers said they’re looking for cheaper fuel from North America. Last year, decade-long talks to supply pipeline gas to China foundered over price disagreements.
“Gazprom has a major problem of having a fixed view on what the price of gas should be, irrespective of market conditions,” Jonathan Stern, chairman and senior research fellow at the Oxford Institute for Energy Studies, said by e- mail. “If this continues, it will create increasing problems for Russian gas exports.” MORE