OREANDA-NEWS  European Union sanctions against the supply of liquefied natural gas (LNG) from Russia may lead to higher prices on the global market, according to Igor Yushkov, an expert at the Financial University under the Government of the Russian Federation, a leading analyst at the National Energy Security Fund.

According to the analyst, Russia is now in second or third place in terms of the number of LNG supplies to Europe, sharing a position with Qatar. The United States is in the first place in terms of exports.

"They will need to buy more from the United States or Qatar, which means paying more for gas than they pay in Asia. The competition between Europe and the Asians will be even tougher for LNG. She will always pay more than Asia is willing to pay for gas to come to her. This is a problem for them, it will cause the price to rise," he said.