July 8, 2017 / 3:28 PM / 2 years ago

Putin says Russia has competitive edge over U.S. for gas sales to Europe

Russian President Vladimir Putin looks on during a news conference at the G-20 summit in Hamburg, Germany July 8, 2017. Sputnik/Mikhail Klimentyev/Kremlin via REUTERS

HAMBURG (Reuters) - Russian gas has a competitive advantage over liquefied natural gas (LNG) exports from the United States to Europe due to lower production and transportation costs, Russian President Vladimir Putin told reporters on Saturday.

However, he also welcomed U.S. efforts to export its LNG to Europe, where Russia accounts for a third of gas supplies, saying this created a “healthy rivalry”.

Reporting by Denis Dyomkin; Writing by Vladimir Soldatkin; Editing by Greg Mahlich

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