Gazprom Needs $13 Bln for Power Energy Assets

As Russia will transfer to market gas and power prices, Gazprom will be able reap profits from power energy sales on the retail and wholesale markets. Heads of Gazprom and RAO UES Alexey Miller and Anatoly Chubais agreed earlier this month that in 2010 the Russian gas giant will sell to the power grid half of the gas they need at a fixed price. UES will have to buy the remaining amount at the exchange or in direct contracts with independent producers. The two companies have already agreed on the amount of supplies for the next three years. The energy company will have to pay for the gas they have contracted no matter if their real needs are less that the earlier determined figures.

Another keynote in Gazprom’s energy strategy is a plan for a move in coal-based power generation. Experts at Gazprom say that this will help to contain the growing gas consumption in Russia between 2010 and 2015.
Kommersant