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Gazprom looks to expand

Jan. 25, 2012 at 8:09 AM   |   Comments

MOSCOW, Jan. 25 (UPI) -- Russian natural gas company Gazprom said there were opportunities to expand its global presence by enhancing pipeline networks and reaching overseas with LNG.

The board of directors at the gas monopoly laid out what they said was a vision for larger role in the global natural gas market.

European leaders aim to break Russia's grip on the gas sector though the company has managed to move ahead with natural gas pipeline plans that sink deep into the heart of the European community. The company said it aims to expand existing networks and create new pipeline export routes to Europe and Asia-Pacific countries.

Enhancing its portfolio of liquefied natural gas, could increase the company's presence in the Far East and abroad, the company added.

Managers at Gazprom were tasked with overcoming what the company said were obstacles to its plans for global expansion.

"The Gazprom board of directors took notice of the information relevant to administrative barriers and obstacles impeding the company's growth and deriving from the European Energy Charter, established rules for acquisition of stakes in Europe's gas transmission systems as well as from the limitations on engagement in the gas consumption infrastructure development in Asian countries," the company said.

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