GAZPROM TO PROVIDE EUROPE WITH GAS FOR ANOTHER 30 YEARS

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MOSCOW, April 26 (RIA Novosti) - The Russian gas holding Gazprom can fully provide Europe with gas for another 30 years, its head Alexei Miller said in a television linkup arranged for awarding the international prize Global Energy.

He recalled that Russia has been supplying gas to Europe for 30 years, the present amount coming up to 140 billion cubic meters annually. "If Europe wants two times more, we can arrange it", the Gazprom head assured.

The energy sector of many European countries, such as Germany, Italy and France, has been developing with energy-carriers from Russia. "Russian partners have always been immaculate suppliers", Miller stressed.

Assessing Russia's reserves of gas, he noted that domestic gas fields are still understudied. Only 5 percent of the sea shelf has been surveyed, he said. According to Mr. Miller, the potential reserves of natural gas are "extremely large".

The open-end joint-stock company Gazprom -- the indisputable monopolist of Russia's gas sector - is the owner of the reserves, main producer, carrier and seller of natural gas.

Gazprom's authorised capital is a little over four billion dollars. The state has the largest block of shares - 38.7 percent. With this amount plus 17.33 percent of shares distributed among the subsidiary structures, the state has control of the company.

Now Gazprom accounts for the production of 94 percent of Russia's natural gas and holds in hand a quarter of the world reserves. Gazprom's present share in the world export of gas is 45 percent. In 2003 receipts from the export of gas to the European markets reached a record high, topping 16 billion dollars, or 22 percent more than in 2002.

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