Gazprom has agreed to invest $420 billion in the gas sector by 2030 to ensure enough supplies to the domestic and foreign market.
This announcement strengthens the speculation that Russian state-controlled energy producer could further try to take a half share in TNK-BP or buy British Gas’s parent group, Centrica. Russian government has already pushed western drillers out from the country.
Most of the countries, which depend on Russia for oil were accusing that state-controlled Gazprom was investing too little in production and leaving dependant countries in scarcity.
Chairman Dmitry Medvedev, rules out criticism and asserts that Russian government is aware for the dependent countries need and will take all necessary measure to meet the growing demands.
Making oil viable for its customers, Gazprom is considering possible swap deals with a number of foreign companies, such as Germany’s E.ON, BASF and Britain’s BP Plc.
Experts assert that joint ventures and asset swap deals with foreign partners would ensure that Gazprom can supply the market in full.
Gazprom supplies a quarter of Europe’s gas needs, an average of $260 per 1,000 cubic meters of gas. State owned oil driller produced 556 billion cubic meters of natural gas last year and plans to raise output to 940 billion cubic meters by 2020.
Via: Guardian
