Russia Tries Soft Touch With EU as Market Blunts Gas Weapon

Facing unprecedented competition in its main market and slow progress in cracking into new ones in China, Gazprom PJSC has dropped the bluster and threats it brandished with clients in Europe amid the Ukrainian crisis last year. Instead, the Russian gas giant is showing new flexibility with customers, hastily reviving pipeline projects to bring gas directly to the European Union and pushing to settle an EU antitrust claim that could cost it billions of dollars.

“The position of Gazprom and the Russian side is becoming flexible in light of the changing situation, defending our interests but also taking into account the demands of the European side,” First Deputy Energy Minister Alexey Teksler said in an interview.