17 June 2004 00:07
Gazprom to restore share on German, French markets
MOSCOW. June 17 (Interfax) - Russian gas giant Gazprom plans to take steps to restore the volume of gas supplies to
Germany and France, which fell last year, company Deputy CEO Yury Komarov said at a press briefing in Moscow.
"We are taking steps to resolve this problem," Komarov said. He
said that Gazprom might use mechanisms to supply summer gas. In
He said that the drop in supplies was caused by increased competition following the liberalization of the gas market
in Europe. In particular he said that these countries are able to acquire gas on the spot markets in Britain and Norway.
Komarov said that Britain has excess gas in the summer.
gas supplies to Germany on a spot basis would be possible "when we
reach the end consumer." "I think that in 2004 we will restore the
addition, gas may also be supplied on a spot basis. He also said that
Komarov also said that this year Gazprom plans to sell about 4
billion cubic meters of gas on the spot market in Britain, up from 2
situation," Komarov said.
He also said that at the moment there is a surplus of gas on the European market.
Komarov said that 2003 was a tough year in relations with the European Union, particularly as regards bringing
Gazprom contracts into line with EU requirements, including the lifting of a ban on re-exports of gas in long-term
contracts. He said that the company found a solution on two contracts - with Austria's OMV and Italy's Eni.
"There is still Ruhrgas, we are working on this project," he said.
bcm in 2003. He said that by 2008 spot sales might reach 10-12 bcm.
Regarding the Yamal-Europe project, Komarov said that by the
second half of 2005 it is planned to bring the first strand of this
pipeline up to full capacity of 33 bcm per year. The pipeline's
Komarov said that Gazprom has the possibility of selling gas on the spot market in Belgium, and small volumes are
currently being sold in Italy.
The deputy CEO said that this year the company plans to supply 3.3 bcm of gas to Turkey through the Blue Stream
pipeline, and the contract for the year is for supplies of up to 4 bcm. Last year Gazprom supplied 1.3 bcm of gas
through this pipeline. "This project is economically viable, its profit margins will be high," Komarov
said.
that additional marketing research has been carried out for this
project. "A final decision on this project will be reached soon.
He also said that projects might be implemented to enter new markets through Turkey - for example, to supply gas to
Israel. Israel has asked Gazprom to supply 6-8 bcm of gas per year.
capacity currently amounts to 23 bcm per year.
Speaking about the North TransGas Pipeline project, Komarov said
Detailed marketing will be carried out in 2004," he said. Komarov said that this project is interesting
primarily from the point of view of supplying gas to the market in Britain. Gas will also be supplied through the
pipeline to Scandinavia and Germany.
In response to a question about Gazprom's plans to avail of an option to acquire shares in the Slovakian company
SPP, Komarov said that Gazprom will more than likely avail of this option next year. This decision will primarily be
linked with the situation on the currency market, particularly the position of the euro against the dollar. [RU EUROPE
ASIA EEU EMRG ENR ELG NGS TRD] rd
[Interfax] |
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