Gazprom's LNG marketing and trade director Aleksey Polous participated in discussions on Europe's energy security at the IndoPacific LNG Summit 2026 in Indonesia. Polous stated that the widespread narrative that LNG is more reliable than pipeline gas in Europe does not reflect reality.
Recalling past criticism of Europe's dependence on Russian gas, Polous explained that the US now accounts for 60% of the continent's LNG imports. He emphasized that in Germany, this share exceeds 90%.
Pointing to this US dominance in the European LNG market, the Gazprom official said, "Natural gas prices have risen to three times higher compared to the period when significant volumes of Russian gas were supplied to the European market."
Polous noted that LNG shipments could be affected by potential disruptions at production facilities and transit risks through strategic chokepoints such as Hormuz, Malacca, Bab el-Mandeb, and Panama. He added that Qatar has long been one of the leading suppliers in the global LNG market.
Before the Ukraine war, Gazprom was Europe's largest natural gas supplier, having built its market share to 40% by 2022 through nearly 50 years of pipeline investments. After losing customers to suppliers like the US, Qatar, and Norway following sanctions, the company shipped approximately 18 billion cubic meters of natural gas to Europe in 2025. This volume was 201.7 billion cubic meters in 2021.
