Spanish Gas Natural signs Gazprom deal

MADRID, July 22 (UPI) -- Spanish gas firm Gas Natural signed a one-time operational agreement in the liquefied natural gas market with Russian energy giant Gazprom.

Gas Natural laid out development goals through 2012 to boost its operational capacity to 1.2 trillion cubic feet of natural gas per year. The deal focuses on that expansion, Russian news agency RIA Novosti reported Tuesday.

Gas Natural is ranked as the third-largest carrier of LNG in the world.

The two energy giants also stated in the deal they could consider further cooperation in the transportation of natural gas as well as exchanges of greenhouse emission quotas.

Gas Natural also wants to raise its underground storage capacity to nearly 50 billion cubic feet and enlarge its LNG fleet to 13.