ISTANBUL, October 22. /TASS/. No overproduction of liquefied natural gas (LNG) is on the market, CEO of the Russian gas producer Novatek Leonid Mikhelson said at the Verona Eurasian Economic Forum.
"Sometimes there is even heard an opinion at present that LNG overproduction will be in coming years. As long as Novatek deals with LNG, we always hear this phrase. Nevertheless, the actual market practice shows that no overproduction takes place. If the price goes down, LNG simply starts substituting coal. On the other hand, LNG shortage may occur. It is because of that we see gas price spikes. This is what is taking place in the current year," Mikhelson said.