Gazprom says it's a logical partner for Asia

Sept. 25, 2013 at 7:40 AM

YUZHNO-SAKHALINSK, Russia, Sept. 25 (UPI) -- Russian energy company Gazprom is in a strategic position to capitalize on the growing natural gas demand from Asian economies, its deputy chairman said.

Gazprom Deputy Chairman Alexander Medvedev led a delegation to take part in an oil and natural gas conference under way in Yuzhno-Sakhalinsk on Sakhalin Island in Russia's Far East.

Gazprom operates Russia's only liquefied natural gas plant at Sakhalin Island, in the Sea of Okhotsk. Medvedev said Gazprom was in a unique position to capitalize on demands from Asian markets given its strategic energy position in the region.

"At a time when a growing demand is expected in Asia, Gazprom is ready to make a substantial contribution to providing the reliable eco-friendly energy supplies to consumers in the region for fulfilling their needs, therefore strengthening the company's presence in the Asia-Pacific energy market," he said in remarks published Tuesday.

Medvedev said Russia is one of the largest natural gas producers in the world and 90 percent of its unconventional gas reserves are situated in the Far East.

He said Asian economies, particularly China and India, may demand an extra 2.3 trillion cubic feet of natural gas per year by 2035.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
North Dakota refinery completed
China starts work on Russian gas pipeline
Eni reaches LNG deal in Indonesia
Samsung gets major Johan Sverdrup contract
Vitol buys into Nigeria downstream sector