Report: Russia's Novatek Head Sees LNG From US As Chief Threat

Leonid Mikhelson, the head of Russia's Novatek said on Jan. 25 that LNG from the United States as its chief threat, Interfax news agency reported.

He said, according to Interfax, that LNG production in the U.S. enjoys cheap financing, while LNG production in Russia has a competitive edge thanks to its low production costs.

Qatar is the world's biggest LNG producer.

Energy companies are flooding Europe with U.S. natural gas, establishing a foothold in a market dominated by Russia and seen as a key battleground in Washington's efforts to curb Moscow's energy influence.