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Gazprom Out To Dominate Liquefied Natural Gas Market

Gazprom
Gazprom

Gazprom has declared it wants to be the world leader in liquefied natural gas. Vice Chairman Alexander Medvedev was on "Morning Call" today to talk about it. Gazprom is already the world’s largest gas company – controlling a quarter of the world’s reserves. Medvedev says these reserves are adequate to develop the requisite LNG.

Medvedev also cited three big projects Gazprom is working on – not the least of which is development of the Stockman oil field in the Barents Sea. The company denied partnerships in the field to Statoil and Norsk Hydro of Norway, Total of France, and Chevron and ConocoPhillips of the U.S. Medvedev says those foreign companies can still be involved in some capacity. He’s looking to get the “best of the best” in technology and management to tackle the project.

Medvedev also said he hopes transportation restrictions won’t stop his company’s penetration into the U.S. – citing rumors that there was talk on a federal level to update infrastructure to accommodate natural gas distribution.

In response to a question about cutting off the gas supply to Ukraine--Medvedev said that it was not an intentional cut--the contract was up. He said, "No contract-no delivery."

Medvedev also denied being too close to the Kremlin. “All our decisions are commercially driven,” he says.

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