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Russia to pick China as main gas consumer if EU fails to cooperate – Wintershall CEO

Gasoil News - Published on Mon, 18 Feb 2019

Image Source: Sputnik International
Mr Mehren CEO of Wintershall, said in an interview, that Russia may shift focus to China as the main market for its gas supplies if the European Union fails to show genuine interest in properly cooperating with it, which will be equally detrimental to Moscow and Europe. He said that "We shouldn't forget: Russia has alternatives! If we Europeans do not bind Russia to us, the world’s largest gas producer will turn to China. That would not be good for Russia and not good for Europe. Only China would benefit."

Mr Mehren also dismissed claims that some European businesses were increasingly courting Russia. He said that "I don't think that Western companies are ‘increasingly’ seeking cooperation, but continue to be heavily engaged in Russia. And that’s a good thing. Because Europe’s security of supply needs Russia as a close partner. That’s a fact – whether it suits politicians or not."

German oil and gas company Wintershall is a subsidiary of BASF. In Russia, Wintershall together with Gazprom develops the Achimov deposits of the Urengoy gas field and the Yuzhno-Russkoye field. Along with other major European companies, Wintershall is taking part in the Nord Stream 2 pipeline project, which will bring Russian natural gas to Europe via the Baltic Sea and a hub in Germany.

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Posted By : Rabi Wangkhem on Mon, 18 Feb 2019
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