Russia: Gazprom Plans to Boost NGV Business

Alexey Miller, Chairman of the Gazprom Management Committee moderated a meeting on boosting the use of natural gas as a vehicle fuel.

Opening the meeting Alexey Miller said: “The time has come for a breakthrough in the Russian natural gas vehicle (NGV) market and Gazprom is the only domestic company that can do it. Our main goal is to expand the sales market of this type of fuel to the extent possible to serve the public interests. Gas is the most eco-friendly fuel. It is also the cheapest fuel. Gazprom is capable of strongly expanding the existing infrastructure, making it more attractive for car drivers, supplying as much gas as possible and actually creating a new great sales market for the Company’s natural gas. This is a profitable core business for us.”

The meeting participants discussed the status of the global and domestic NGV fuel markets as well as Gazprom’s experience gained in this sector. It was highlighted that the NGV market expansion would help significantly reduce atmospheric emissions which was especially significant for big cities. Besides, natural gas is considerably cheaper than gasoline and that raises cost efficiency of vehicle transportation.

The meeting paid special attention to new approaches that may be applied in Gazprom’s NGV business. Consideration will be given to the expediency of setting up an operating company to deal with a turnkey project.

Based on the meeting results, an assignment was given to promptly submit proposals on developing a business scheme that would enable Gazprom to greatly boost the sales of natural gas as a vehicle fuel.

[mappress]
LNG World News Staff, April 24, 2012