Gazprom expects to stay competitive after EU introduces carbon tax by cutting emissions

MOSCOW. Oct 25 (Interfax) - Gazprom's gas will remain competitive even if Europe introduces its Carbon Border Adjustment Mechanism (CBAM) by implementing measures to reduce emissions, the Russian gas giant's deputy CEO and head of Gazprom Export LLC, Yelena Burmistrova said in an interview with the company's in-house magazine.

She said the role of gas in reducing greenhouse gas emissions is recognized in the European Union and by the global community.

"In this context, in light of the European Commission's publication of the bill on the introduction of a carbon border tax, the EU's decision not to include natural gas supplies within the perimeter of this tax seems quite reasonable to us," Burmistrova said.

"But if the tax is subsequently imposed on the gas sector as well, in that case Gazprom's gas will remain highly competitive thanks to the company's successive introduction of effective measures to reduce emissions," she said.

"Gazprom's exports of pipeline gas to Europe boast a minimal carbon footprint and are the most consistent with European climate goals. Using the new Nord Stream 2 gas pipeline to deliver gas to Europe will make it possible to reduce the carbon footprint thanks to the cleanness of this route compared to the traditional route created many decades ago," Burmistrova said.