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Wednesday, January 18, 2006

Russian energy giant targets UK market

January 18, 2006 The Guardian Terry Macalister - Gazprom, the Russian energy giant, is planning an assault on the UK market with plans to provide 20% of Britain's gas by 2015, possibly through the £10bn takeover of a company such as Scottish Power. The world's biggest gas producer admits the recent spat with Ukraine has damaged its image but insists this is because western politicians have reverted to "cold war" rhetoric. In an interview with the Guardian, Gazprom's deputy chairman, Alexander Medvedev, insisted Britain had nothing to fear from sourcing energy from his company, and from Russia. "We now have a good wholesale business in the UK with big industrial customers and power stations. We are aiming to secure 20% of the market by 2015," he said.

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