Gazprom moves into Belgian gas market

Dec. 9, 2010 at 9:39 AM

BRUSSELS, Dec. 9 (UPI) -- Russia is reaching out to partners in Belgium to help usher in a new era in bilateral gas relations, a top official at energy monopoly Gazprom said in Brussels.

Alexander Medvedev, Gazprom's chief executive officer, signed a memorandum of understanding for underground natural gas storage between his company and Belgium's Fluxys, Russia's ITAR-Tass news agency reports.

Both sides, Medvedev said, were pursuing projects to use liquefied and compressed natural gas as a source of motor fuel.

Medvedev said the measure could find a place on a list of priorities for the European Commission.

The potentially capacity for the alternative forms of natural gas could pass 1.4 trillion cubic feet of gas per year, he said.

"We are passing from the words to the deeds when we will not only control the supply but will also control the demand," he added.

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