Gazprom says to boost eastern Russia investment
Thursday, 10 September 2009
MOSCOW, Sept 9 (AFP): Russian energy giant Gazprom said yesterday it will boost investment in the Russian Far East to some 2.2 billion euros (3.2 billion dollars) in 2010 as the company looks to energy-hungry Asian markets.
"In 2010 the financing volume will be increased to 100 billion rubles" from 67 billion rubles in 2009 for the eastern part of the country, Gazprom's deputy chief executive Alexander Annenkov said in a statement.
The statement mentioned in particular construction of a gas pipeline to link the energy-rich island of Sakhalin to the port of Vladivostok as well as oil and gas exploration on Sakhalin and in the Yakutia region of eastern Siberia.
Gazprom has had to slash its investments in infrastructure this year as gas consumption has dropped in Europe as a result of the economic crisis. The company is increasingly looking to supply fast-rising Asian markets.
"In 2010 the financing volume will be increased to 100 billion rubles" from 67 billion rubles in 2009 for the eastern part of the country, Gazprom's deputy chief executive Alexander Annenkov said in a statement.
The statement mentioned in particular construction of a gas pipeline to link the energy-rich island of Sakhalin to the port of Vladivostok as well as oil and gas exploration on Sakhalin and in the Yakutia region of eastern Siberia.
Gazprom has had to slash its investments in infrastructure this year as gas consumption has dropped in Europe as a result of the economic crisis. The company is increasingly looking to supply fast-rising Asian markets.