Asia:Gazprom sees recovery in gas market
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Tyne [2011-05-20]
The Netherlands and Denmark want more natural gas deliveries from Russian gas monopoly Gazprom as recessionary strains ease, the company's top executives said.
The economic downturn that hammered most of the economies in the eurozone prompted calls for lower gas prices and lower volumes as slow economic activity translated into lower demand.
Alexander Medvedev, the deputy chairman at Gazprom, said customers are beginning to see rising energy demands as the world economy limps out of recession.
"We have orders for increased gas supplies from the Netherlands and Denmark," he was quoted by Russia's state-run news agency RIA Novosti as saying. "This means that gas has a promising future."
Stanislav Tsygankov, the foreign relations chief for Gazprom, said he expected to see natural gas orders return to pre-recession levels by 2012.
Tsygankov said his company was moving ahead with plans to increase shipments of at least 6.3 trillion cubic feet of gas to European consumers, Gazprom's largest, by 2020. Gas exports for 2010 were recorded at 4.9 tcf.