Russian gas firm Gazprom is aiming to grab a greater share of the UK market
Published:
18 November 2004 y., Thursday
Russian gas firm Gazprom is aiming to grab a greater share of the UK market. A pipeline linking Russia and the UK could be built as part of the plans by the world's largest gas company.
Gazprom has been exporting gas to UK utility companies since 1999 but now hopes to gain a 10% share by 2010 by selling direct to industrial customers.
The UK, Europe's largest gas market, will become increasingly dependent on outside suppliers from 2005 as its North Sea resources start to decline.
Gazprom is part of a consortium planning to build a 1,189km (738 mile) pipeline under the Baltic sea to Germany, and says this could be extended on to the UK.
It said it was in talks with British Gas owner Centrica about future supply contracts and possible investment in the pipeline.
Russian has the world's largest reserves of gas and Gazprom already accounts for about a quarter of the world's needs.
Gazprom said it also wants to sell gas to industrial customers in France, Belgium and the Netherlands.
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