OilPrice.com: Russia’s Natural Gas Plans May Be Little More Than Hype

Russia has publicly touted an array of natural gas export projects over the past year, a web of pipelines that would connect Russian gas to some of its largest customers, while also achieving important strategic objectives. But many of these projects will not come to pass.

Russia is one of the world’s largest producers of natural gas, and Europe has long been its most important customer. But that suddenly changed after the Ukraine crisis began in early 2014. Since then, Europe has made some small but important steps towards reducing its dependence on Russian gas, while weak demand, mild winters, and high levels of gas storage have all highlighted the market risk that Russia’s state-owned Gazprom runs by relying too heavily on Ukraine as a transit route, and Europe as its predominant export destination.

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