Russia, China will determine gas market architecture in the ...

Russia, China will determine gas market architecture in the near future — Gazprom CEO

MOSCOW, October 20. /TASS/. The architecture of the global gas market in the near future will be shaped by Russia as the largest producer and China as the largest consumer, Gazprom CEO Alexey Miller said in an interview with the Rossiya-24 television channel. "If we talk about the regional aspect, then, without a doubt, the architecture of the gas market in the very near future will be determined by Russia as the largest gas producer and China as the largest gas consumer," he said. Miller noted that this situation is due to objective market factors. He stressed that these two countries will determine the further development of the gas market. In his analysis, the Gazprom CEO paid special attention to the countries of the Global South, noting the impressive growth rates of gas consumption in this region. He cited statistics showing that these countries' share of the global gas balance has increased from 45% to 60% over the past 25 years. Miller predicted a further strengthening of the Global South's role in the gas industry, suggesting that within 25 years their share will reach 70% of the global gas balance.

"If we talk about the regional aspect, then, without a doubt, the architecture of the gas market in the very near future will be determined by Russia as the largest gas producer and China as the largest gas consumer," he said.

Miller noted that this situation is due to objective market factors. He stressed that these two countries will determine the further development of the gas market.

In his analysis, the Gazprom CEO paid special attention to the countries of the Global South, noting the impressive growth rates of gas consumption in this region. He cited statistics showing that these countries' share of the global gas balance has increased from 45% to 60% over the past 25 years.

Miller predicted a further strengthening of the Global South's role in the gas industry, suggesting that within 25 years their share will reach 70% of the global gas balance.