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Gazprom is close to completing the main gas pipeline construction projects of the previous decade.
Power of Siberia and TurkStream have been launched. More than 90% of Nord Stream 2 is finished and the project is to be completed in the next few months, after all. Resources on Yamal and in Eastern Siberia are being gradually developed.
At the same time, the situation in gas markets - because of a second warm winter in Europe in a row, concerns about transit crisis in Ukraine, the COVID-19 pandemic, and an inflow of LNG - has gone out of control and reached depths unseen in the last 20 years.