LNG Project Outlook in Canada amid Gas Crisis in Europe

Alexander Romanovich Reva and Oleg Vladislavovich Doroshenko
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Alexander Romanovich Reva: Russian Foreign Trade Academy, Moscow, Russia
Oleg Vladislavovich Doroshenko: LLC „Gazprom export“, St. Petersburg, Russia

Russian Foreign Economic Journal, 2021, issue 11, 100-117

Abstract: The sharp rise in gas prices in 2021 driven by increased demand in the Asia-Pacific region caused a shortage of LNG supplies to Europe. It resulted in the energy crisis in Europe. Moreover, the imports of pipeline gas from North Africa and the Caspian region could not compensate for Russian gas supplies at the pre-covid level. Canada is currently represented by only one project on the east coast. The heterogeneous nature of contracts, high cost of infrastructure and dependence on price fluctuations mean that the opportunity window for new entrants does not have a permanent basis. Canada being a fringe player in the global competitive market faces rivals that are already landing contracts, realizing their competitive edge due to earlier entrance and lower mining costs.

Keywords: Gas prices; gas price increases; LNG; LNG shortage; Canada; gas crisis in Europe. (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:alq:rufejo:rfej_2021_11_100-117

DOI: 10.24412/2072-8042-2021-11-100-117

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