Royal Dutch Shell Plc  .com Rotating Header Image

Gazprom will double project investments

 

Toronto Star
Toronto Star

Gazprom will double project investments

 
Jun 10, 2008 04:30 AM

OAO Gazprom, Russia’s state-owned natural gas monopoly, plans to double project investment to $30 billion (Canadian) this year, which would allow the company to overtake a target set by Royal Dutch Shell PLC that the Anglo-Dutch company said was the largest in the oil and gas industry.

Gazprom will explore new fields and build pipelines to supply gas to Europe, CEO Alexei Miller said in a recent speech to a conference in St. Petersburg. Shell CEO Jeroen Van Der Veer on June 2 reiterated his company’s plans to invest $27 billion this year.

BP PLC, Europe’s second-largest oil company, plans to invest $22 billion in projects this year, CEO Tony Hayward said at the Asia Oil and Gas Conference in Kuala Lumpur yesterday.

Moscow-based Gazprom is boosting spending to find more gas as its Siberia fields become depleted.

© Copyright Toronto Star 1996-2008

 

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each blog member is allowed limited comments, as displayed above the comment box.
  • Comments must be limited to the number of words displayed above the comment box.
  • Please limit one comment after any comment posted per post.