Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to Kommersant FM on the prospects for proposed negotiations between Russia, the United States and the EU on the partial resumption of Russian pipeline gas supplies to Germany.
Trump's intentions still raise questions, Alexey Belogoryev notes.:
"It is unclear what the US is interested in, because for American LNG exporters, Russian pipeline gas is a direct competitor in the market of Northwestern Europe and Germany. And the less Russian gas there is, the better for the United States, both in terms of possible supply volumes and prices. If Russian gas returns to Germany, it will first of all lead to a rather serious price reduction.
Most likely, this is some kind of negotiation trick. It doesn't cost Trump anything, but he has a trump card that he is ready to offer Russia. Moreover, during his first term as president, Trump did a lot to block Nord Stream 2 and generally squeeze Russian gas. He has quite tough positions in the gas sector and is active. In other words, this is almost the first president in the history of the United States who lobbies for American gas supplies so bluntly and, one might say, with his own hand. And, apparently, Trump is going to continue this marketing policy.
At the same time, it is too early to talk about any kind of agreement on the part of Europe. In Germany, which is a key country in this possible deal, there is no political consensus on the possibility of resuming supplies from Russia. It will definitely be required to coordinate with the European Commission. I would still talk about the possibility of resuming Ukrainian transit to Slovakia, Austria and Hungary. But we are talking only about limited supplies for this region. Maybe even to the Czech Republic."
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