Turk Stream Proves a Tough Sales Pitch

摘要

Europe has always been the key export market for Russian gas and state-run Gazprom intends to keep it that way longer term, despite its new focus on the Chinese market (WGI May6'15). But "Europe" means different things to different folk. Sales to Turkey may rise, but Gazprom's tough talk over Turk Stream — including warnings of supply cuts in 2020 — means it risks losing market share in the EU, as that bloc seeks to reduce its dependence on Russian gas.