Alexander Medvedev, general director of Gazprom Export, said the energy giant's transition to the principle of equal prices from 2011 will facilitate this task.
"It is not enough for us simply to meet 25% of global gas consumption. We want to become the largest energy company," Medvedev told the fifth All-Russian forum on the fuel and energy sector in the 21st century.
Medvedev said Gazprom will diversify its operations to achieve this goal and add oil, oil refining and electric power to its natural gas component.
Medvedev said this is an ambitious goal, considering that prices are regulated by the state in Russia.
"But starting from 2011, a decision has been made to switch to the principle of equal prices and this goal will become easier," Medvedev said.
Medvedev also said Gazprom exported 151.5 billion cubic meters of natural gas to 22 countries in 2006, with sales totaling $37.2 billion compared to $18.4 billion in 2005.
Gazprom's market capitalization grew from $9 billion in 2000 to $270 billion in 2006.
Recommended Reading
EnLink Investors Vote in Favor of ONEOK Buyout
2025-01-30 - Holders of EnLink units voted in favor of ONEOK’s $4.3 billion acquisition of the stock, ONEOK announced Jan. 30.
Mach Prices Common Units, Closes Flycatcher Deal
2025-02-06 - Mach Natural Resources priced a public offering of common units following the close of $29.8 million of assets near its current holdings in the Ardmore Basin on Jan. 31.
EON Deal Adds Permian Interests, Restructures Balance Sheet
2025-02-11 - EON Resources Inc. will acquire Permian overriding royalty interests in a cash-and-equity deal with Pogo Royalty LLC, which has agreed to reduce certain liabilities and obligations owed to it by EON.
Lion Equity Partners Buys Global Compression from Warren Equipment
2025-01-09 - Private equity firm Lion Equity Partners has acquired Warren Equipment Co.’s Global Compression Services business.
Alliance Resource Partners Adds More Mineral Interests in 4Q
2025-02-05 - Alliance Resource Partners closed on $9.6 million in acquisitions in the fourth quarter, adding to a portfolio of nearly 70,000 net royalty acres that are majority centered in the Midland and Delaware basins.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.