Tuesday, October 2, 2007

Gazprom Seeks to Reassure Europe

Gazprom has taken a step to make its European clients rest a little easier by using some of its large reserves in the Shtokman fields to supply gas to Europe, officials of the German-Russian consortium that will transport the fuel said Monday.

Confirming for the first time that the Shtokman fields would be tapped, the officials said that Gazprom was seeking to reassure European customers that Russia would develop one of the largest offshore natural gas reserves in the world.

Europe increasingly depends on Russian gas, buying more than a quarter of its total from Gazprom, the state-owned Russian energy monopoly. Energy analysts said Europe, which imported around 330 billion cubic meters of gas in 2005, would require an additional 200 billion cubic meters per year by 2015.

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