USD 2 for Russian LNG? This stuff comes in with artic class LNG tankers. Those ships are so expensive that Novatek thinks of building a billion-dollar terminal in Kamchatka for their Asian route. Also, doing anything in Yamal has a price. The USGC is a walk in the park compared to that. If Novetek sells at USD 2, its because they have to. Its because they can afford that. The expressions “Russian LNG” and and “cheap” don’t chime. Only fools believe otherwise.
Aggressive pricing is giving Russia a strong position in Europe’s competitive LNG import market, according to Platts