The development path of the global gas market will be determined by the Global South and the Asia-Pacific countries, said Gazprom CEO Alexey Miller on Wednesday.
“The development path of the global gas market will now be determined absolutely exclusively by the new centers of world economic development: the countries of the Global South and those of the Asia-Pacific region,” Miller said in a speech at the plenary session of the 12th St. Petersburg International Gas Forum.
He said that Russia is actively developing relations with these countries, especially with China.
Miller also noted that the natural gas market remains “narrow” for Western countries. At the same time, demand for natural gas will grow steadily over the coming decades. Western companies prefer Russian natural gas to return to the European market.
The 12th St. Petersburg International Gas Forum is taking place in the Russian city of St. Petersburg from Oct. 31 to Nov. 3, drawing more than 17,000 participants from dozens of countries, according to the organizers.