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Friday, June 27, 2008

Gazprom to Open Stations in Europe

June 27, 2008 - Kommersant - Gazprom intends to contact its European partners with the proposal to develop a project to create a joint network of natural gas filling stations in Europe, Alexey Miller told the monopoly’s annual meeting today. He also said that Gazprom intends to acquire and build electric facilities abroad. Miller said that Gazprom plans to “develop a presence in electric energy both in Russia and abroad.” “We plan to study investment in foreign electric assets with the goal of strengthening Gazprom’s position,” Miller said. Gazprom is prepared participate independently in the construction of combined-cycle gas turbine plants abroad. The success of the projects will be determined by the growth of profitability of gas deliveries to the region and receipts from the sales of electricity, Miller said. According to Miller, Gazprom will acquire and build assets in regions with rapidly growing demand for electricity, high electricity prices and a shortage of generating capacity.

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