Russian Energy Giants – Gazprom and Rosneft – clash in International Gas Markets
Jun 4, 2018 10:25 am
Russian energy major Rosneft is increasingly challenging domestic rival Gazprom in international gas markets, from West Africa to Turkey and even Europe, according to five industry sources with knowledge of the matter
Last week, Rosneft won a multi-billion dollar contract in Ghana that had been targeted by Gazprom, the sources said. It also signed a gas fields and pipeline deal in Iraqi Kurdistan aimed at supplying gas to Turkey and Europe — Gazprom’s core markets.
Oil-focused Rosneft’s international expansion in gas will put the two Russian state-owned giants in direct competition, particularly in the lucrative European market, which is worth over $150 billion a year.
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