"Naftogaz" Will Provide Russian Gas Transit

Ukrainian "Naftogaz" has agreed to transit Russian shale gas to Europe, as well as for all domestic consumers. The report was made today at a conference by the "Naftogaz" Chairman Eugene Bakulin.

According to the Deputy Chairman of "Gazprom" Alexander Medvedev, Russia has a chance to participate in the European market. Medvedev believes that the future needs of Europe will be 145 - 185 billion cubic meters of gas. Europe will have to reduce its gas production, because of resource depletion. Russia plans to resolve the gas issue by handling unconventional gas deposits. Head of "Gazprom" considers the prospects of Russian gas as "very optimistic".

In June, experts predicted up to 160 billion cubic meters of gas exports to Europe. Currently Medvedev is sure that deliveries will be increased. "European deposits will dwindle, while the U.S. gas will not get less expensive. Gas from the Caspian region cannot meet the European demand of gas in full. Only Russia can save Europe", Alexander Medvedev says.

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