Russia's gas giant Gazprom said Tuesday that it would speed up programs to increase gas exports to countries in the Asia-Pacific region.
"The Asia-Pacific region is a dynamic market. Russian gas deliveries to Asia-Pacific countries must at least reach the level of those to Europe," Gazprom spokesman Sergei Kupriyanov told a news conference here.
During the 2012 Asia-Pacific Economic Cooperation (APEC) summit held in the Russian Far Eastern city of Vladivostok, Gazprom signed several agreements with APEC economies.
Mr. Kupriyanov cited an agreement with Japanese companies on the construction of an LNG plant in Vladivostok as a step by Gazprom toward exploring the vast Asia-Pacific market.
The spokesman also said that the company may boost the development of several gas fields in eastern Russia, but did not mention any specific field.
During the APEC gathering earlier this month, Deputy Director of Russia's APEC Study Center Gleb Ivashentsov told a news briefing that Russia would increase its exports of Crude Oil and Nat Gas to the Asia-Pacific region to counterbalance instability in the Middle East supplies.
Local experts and business leaders also called for the country to diversify its energy export destinations and increase exports to the Asia-Pacific to reduce its export dependency on Europe, which has been suffering from a severe debt crisis.
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.