SYDNEY, Nov. 1 (UPI) -- India presents an attractive environment for investments in the liquefied natural gas market, a director at Russian gas company Gazprom said.
Nigel Kuzemko, global director of LNG development with Gazprom's trading arm, told delegates at a gas conference in Australia that India had a "significant" supply gap of more than 2.1 trillion cubic feet of natural gas.
"For organizations such as Gazprom Marketing and Trading, this obviously represents a huge opportunity and we see India as one of our key markets for LNG supplies, along with Japan, South Korea and other North Asian countries, as we continue to strengthen our presence in operations in the Asia Pacific region," he was quoted by the Platts news service as saying.
Kuzemko added there were more opportunities available in the Indian gas market because the country has 1 million natural gas-powered vehicles on the road.
Gazprom had said it was shifting its investment focus to eastern markets.
In Bangladesh during talks Monday with state-owned oil and gas company Petrobangla Gazprom officials offered to drill 11 natural gas wells.
Bangladesh aims to boost natural gas production by around 220,000 cubic feet per day once the drilling program is completed.
