# Novatek, Shell see Russian gas keeping edge in Europe over U.S

> Reuters reports that Novatek delivers LNG to Europe at about $3.15 per mmBtu, compared with $7-$8 for U.S. producers. Asian spot LNG was about $6.2 per mmBtu and European LNG spot prices were just below the North West European hub price of around $6. Gazprom expects its average European gas price this year to be at least $6.4 per mmBtu.

- Date: 2019-02-27 · published 2019-02-27T12:00:00.000Z
- Category: trade · region Europe · magnitude low
- Page: https://feedsoft.ai/events/60789-novatek-shell-see-russian-gas-keeping-edge-in-europe-over-u-s
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Low-cost Russian LNG and the broader LNG glut keep global spot gas prices under pressure and limit the room for higher-cost U.S. supply to win European share.

## Read by commodity

- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2021-12-23 | [European Gas Plunges as Recent Rally Lures Flotilla of U.S. LNG](https://feedsoft.ai/events/43788-european-gas-plunges-as-recent-rally-lures-flotilla-of-u-s-lng.md) | -6.9% | +2.3% |
| NATGAS | 2022-06-14 | [U.S. efforts to help supply Europe with natural gas take a hit.](https://feedsoft.ai/events/6802-u-s-efforts-to-help-supply-europe-with-natural-gas-take-a-hit.md) | -23.8% | -24.1% |
| NATGAS | 2017-05-10 | [Analyst: Surging US Gas to Cap European Prices \| Energy Intelligence](https://feedsoft.ai/events/71204-analyst-surging-us-gas-to-cap-european-prices-energy-intelligence.md) | +3.9% | -4.7% |
| NATGAS | 2019-02-15 | [European LNG influx plays into Gazprom’s hands this winter](https://feedsoft.ai/events/60782-european-lng-influx-plays-into-gazprom-s-hands-this-winter.md) | +5.3% | +10.8% |
| NATGAS | 2017-02-03 | [Europe set to absorb more LNG in 2018 \| LNG Industry](https://feedsoft.ai/events/72695-europe-set-to-absorb-more-lng-in-2018-lng-industry.md) | -1.0% | -14.7% |

## Sources

- reuters.com: https://www.reuters.com/article/us-russia-novatek-sanctions/novatek-shell-see-russian-gas-keeping-edge-in-europe-over-u-s-idUSKCN1QG21K/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.