Russian Energy Deals with Asia Mark Shift Away from Europe

"Russia has a huge amount of gas that's cost competitive against the rest of the world. It could put pressure on other LNG projects, such as those in Australia, which are already suffering cost overruns," he said.

Mr. Dvorkovich said companies would be given permission to export LNG on a project-by-project basis. The government isn't currently considering allowing LNG shipments to Europe, he said, in order to prevent competition with Gazprom's pipeline deliveries to its main market.

Gazprom says it hopes by the end of the year to conclude a deal to sell pipeline gas to China. But the two sides are still negotiating on price, a long-time sticking point in talks.


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