Monday, October 26, 2009

Gazprom Looking to the U.S.A.

Russia's Gazprom is dominant in the European natural gas markets and has quickly been expanding to Asia. These days however, Gazprom has decided to take another look at their 20 year plan to bring liquefied natural gas to the States, something that they had previously pushed to the side in order to take advantage of Asia's growing market and higher European prices. A representative of Gazprom has noted that they are "looking for companies who have big US gas positions and who are looking to get bigger in Europe..." Gazprom is aiming to increase sale of gas in Europe by gaining access to gas reserves in the United States. They would ultimately like to reach a production target of 3 billion cubic feet per day within the next five years.

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