Unconventional gas sources have transformed the global gas markets and have left countries competing for a foothold in various gas plays such as liquefied natural gas (LNG). As the world's largest gas producer, Russia has invested a substantial amount of time and money in developing its own LNG plants and projects to cater for projected high US gas demand. But the global economic crisis and the unexpected success of shale gas in the US have radically changed the gas market. Russia now seems to