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Russia' s Novatek in talks with European gas utilities

MOSCOW -- Novatek is in talks with European utilities, particularly in Germany, about increasing trading operations. The company' s chief executive Leonid Mikhelson said, "We are negotiating with potential customers that would enhance trading operations."

Novatek has already signed a contract with German utility EnBW to supply 2 Bcm of natural gas per year from the fourth quarter of 2012 for a period of 10 years.

State controlled Gazprom is Russia' s monopoly exporter, but analysts say the government may soon allow other companies to export natural gas in response to calls to open up the country' s export sector.

Dow Jones Newswires

10/31/2012

 

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