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