Russia's state-controlled gas giant OAO Gazprom (GAZP.RS) could invest $2 billion to increase the volumes of natural gas it sends via Belarus to Europe by 30%, Russian newswires quoted Gazprom's Chief Executive Alexei Miller as saying Thursday.
Russia
's
state-controlled gas giant OAO Gazprom (GAZP.RS) could invest $2 billion to
increase the volumes of natural gas it sends via
Belarus
to
Europe
by
30%, Russian newswires quoted Gazprom's Chief Executive Alexei Miller as saying
Thursday.
After meeting
Belarus
President Alexander Lukashenko in
Minsk
, Mr.
Miller said Gazprom would send 44.5 billion cubic meters of gas through
Belarus
this
year, the pipeline's full capacity. He said work to increase the pipeline's
capacity by around 15 billion cubic meters will begin in 2013. Gazprom fully
owns
Belarus
's
pipeline company Beltransgaz.
Russia
is
increasing its transit capacity to
Europe
at
the same time as demand from
Europe
is
dwindling amid an economic slowdown and competition from other suppliers.
Gazprom in October opened a second line of Nord Stream, which takes gas to
Germany
via
the
Baltic Sea
, doubling capacity to 55 billion cubic meters. Earlier
this month, the company announced the final investment decision on its South
Stream project to take gas to
Southern Europe
via
the
Black Sea
. That project is aimed at delivering 63 billion
cubic meters of gas per year to
Europe
by
the end of the decade.
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