What have you always wondered about the economy? Tell Us

Gazprom coming to the U.S.?

Stephen Beard Aug 24, 2007


Scott Jagow: The Russian energy company Gazprom could become a major natural gas supplier to the United States. Russian newspapers say the Kremlin-controlled company has been offered a stake in a huge liquefied natural gas operation in the Caribbean. More now from Stephen Beard in London.

Stephen Beard: The Russian newspaper Vedomosti says that Gazprom has been offered a share in the Atlantic LNG operation. The operation ships about a billion cubic feet of natural gas from Trinidad to the U.S. every day.

LNG still accounts for only a very small percentage of America’s total natural gas consumption, but it is set to grow.

And if Gazprom takes up the stake it will acquire a key Western energy asset, says Mark Smedley of World Gas Intelligence.

Mark Smedley: It’s very important and it’s quite pivotal to how the trade in liquefied natural gas operates in the western hemisphere.

But he believes that Gazprom could face opposition within the United States. Gazprom gained notoriety last year after temporarily switching off gas supplies to the Ukraine.

In London, this is Stephen Beard for Marketplace.

Marketplace is on a mission.

We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.

Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?

Your donation is critical to the future of public service journalism. Support our work today – for as little as $5 – and help us keep making people smarter.