A worker welds the first section of the Gazprom South Stream natural gas pipeline in the town of Sajkas, 80 kilometers (50 miles) north of Belgrade, Serbia, on 24th November. ©Marko Drobnjakovic/AP/Press Association Images
Gone are the days of Gazprom’s powerful swagger and threats to diversify its business away from Europe to Asia. The world’s biggest gas producer is now a diminished figure, struggling to adapt to dramatic changes in global gas markets and a breakdown in relations between Europe and Russia.
Displacement of LNG from Asia to Europe spurred by the dramatic development of shale gas production in the …read more
Source: Prospect
