Russian gas giant aims to supply Europe, Asia and North America

Other News Materials 30 June 2006 15:20 (UTC +04:00)

(AFP) - Russian gas giant Gazprom can guarantee plans to develop new outlets in Asia and North America as well as guaranteeing supplies to European markets, the company's chief executive told shareholders at a meeting.

"We have all the potential for entirely fulfilling our obligations to Europe and in parallel to also develop fruitful co-operation with companies from countries in the Asia-Pacific region and North America," Alexei Miller said Friday, reports Trend.

Gazprom controls the world's biggest gas reserves, although critics have accused the company of dragging its feet on developing new fields, upgrading infrastructure and building new export pipelines in time to meet growing global demand.

In his speech, Miller set out his plans for turning the state-controlled company into a global energy major that would take part in all parts of the natural gas chain from extraction to consumer sales.

In 2005, Gazprom extracted 547.9 billion cubic metres of gas, an increase of 2.8 billion from the previous year, according to company data.