Head of Russian Gas Major Slams European Energy Security Ideas

Gazprom is concerned by European initiatives to create an “energy NATO”, whose countries would cooperate if fuel supplies were to stop, Aleksey Miller, the head of the Russian gas holding company, said in Leipzig.

“We are convinced that cooperation and international integration, and not protectionist barriers, will give the most reliable protection to national and European interests when it comes to gas supplies. This is why I am particularly concerned about the recent initiatives voiced in Germany to promote the idea of the so-called ‘energy NATO’, even if under another name. At best, politicizing the energy sector will results in a costly deformation of the market, while the worst-case scenarios may be much more dangerous,” says the text of Miller’s address to a news conference in Leipzig to mark the 35th anniversary of Russian gas supplies to Germany, which has been obtained by RIA Novosti.
“We are convinced that the European Commission’s proposal for vertical disintegration will not encourage investment in the energy sector infrastructure. The latter was created by vertically integrated companies. When these companies own pipelines, it is an important element for them in guaranteeing return of investment. They can therefore develop their production and transportation capacities depending on market needs,” the Gazprom head said.

Red Orbit