Gazprom Seeks to Strengthen Position in France

Russian gas monopoly Gazprom intends to secure 10% of the French gas market within the next five years as it continues its expansion drive in one of its largest markets, according to Thomson Financial, which cited the Russian firm’s deputy chairman Alexander Medvedev’s statement to Le Tribune.

According to the statement, Gazprom supplied 500 million cubic meters of gas directly to end-customers in France in 2007. The Russian firm will also continue its collaboration with the French utility Gaz de France having renewed supply agreements and initiating cooperation in liquefied natural gas.

Thomson Financial reported that Gazprom’s deputy chairman indicated that while there were no acquisitions that his firm was pursuing in Europe, it would consider possible candidates on the basis of meeting the necessary criteria.

Gazprom is reportedly in preliminary talks with French energy major Total over a potential partnership for developing the Astrakahn gas field in Russia, according to the release.