The EU’s plan to phase out energy supplies from Moscow would hit its own citizens the hardest, the head of Novatek says
The EU could trigger an unprecedented surge in gas prices if it proceeds with plans to phase out imports from Russia, Leonid Mikhelson, chairman of the energy giant Novatek, warned on Friday.
Russia holds about 10% of the global liquefied natural gas (LNG) market, Mikhelson said at the Eurasian Economic Forum in Istanbul.
“Excluding the Russian suppliers from the global gas balance would be simply impossible. It would trigger an unprecedented price hike, and the European consumer would pay the most,” the head of Russia’s…
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