Russia to play greater role in western Europe gas markets

Russia early in the next century aims to play a bigger role in western European gas markets, as volumes decline from current key suppliers. Norway's gas sales in Europe by 1999 under current contracts are to increase by about 600 bcf/year to 2.1 tcf, said Peter Mellbye, executive vice-president of Den norske stats oljeselskap AS (Statoil). With total investment of about $25 billion, he said, the country's gas exports could be ramped up to as much as 2.8 tcf/year. Norway currently exports 1.5 tcf/year of gas to Europe. Boris Nikitin, a board member of Russia's integrated gas giant Gazprom, said western Europe by 2010 will need to import as much as 6.4 tcf/year of gas to...

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