Excluding Russian liquefied natural gas from market drives up gas price: Russia’s Novatek head
ISTANBUL, Oct. 31 (Xinhua) -- Excluding Russian liquefied natural gas (LNG) from the global gas balance will drive up the gas price, Leonid Mikhelson, CEO Kenya breaking news | Kenya news today |..
✨ Key Highlights
According to Leonid Mikhelson, CEO of Russia's Novatek, excluding Russian liquefied natural gas (LNG) from the global market will inevitably lead to higher gas prices. He stated that Russia contributes over 10 percent of global LNG production, making its removal from the gas balance unrealistic.
- The EU recently approved its 19th package of sanctions against Russia, including a ban on Russian LNG imports, to be implemented in two phases.
- Novatek's CEO Leonid Mikhelson, made these remarks at the Verona Eurasian Economic Forum on Thursday.
- U.S. LNG deliveries to Europe surged by 60 percent year-on-year in the first three quarters of this year, securing nearly 60 percent of Europe's total LNG imports, while Russia remained the continent’s second-largest supplier.
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US Acts on Tariffs and Argentina's Currency as Russia Warns on LNG Market - October 2025
The U.S. Senate voted 51-47 to eliminate the national emergency cited by President Donald Trump for imposing global tariffs, a vote described as largely symbolic. In a direct economic intervention, the US bought pesos and established a $20 billion currency swap line with Argentina to stabilize the currency and aid President Javier Milei. Meanwhile, Leonid Mikhelson, CEO of Russia's Novatek, stated that excluding Russian liquefied natural gas (LNG) from the global market will inevitably lead to higher gas prices. He noted that Russia contributes over 10 percent of global LNG production, making its removal from the gas balance unrealistic.
