MOSCOW, March 13 (RIA Novosti) - Gazprom will post exports of $33 billion this year, and is looking to up its capitalization by almost 50% in the next few years, the natural gas giant's deputy board chairman said Monday.
Alexander Medvedev said Gazprom did not intend to increase exports of natural gas, which are set to total 151 billion cubic meters this year.
Speaking at an international conference on energy security, Medvedev said Gazprom had been and would continue to be "the guarantor of natural gas supplies to Europe."
"That Gazprom is ready to invest in alternative supply routes is the key factor in ensuring supplies to Europe," he said, referring to the examples of the Yamal-Europe pipeline, the Blue Stream project and the North European Gas Pipeline project.
Medvedev said the energy giant had frequently played a stabilizing role in providing natural gas to global partners. He said the company had made up for the shortfalls caused by Ukraine's siphoning of gas intended for European consumers in January.
Commenting on the liberalization of Gazprom's shares, which lifted restrictions on foreign ownership of Gazprom stock, Medvedev said the company had become more transparent, which also ensured energy security.
The official said the state-owned company was planning to increase its capitalization to $300 billion within two or three years, although "this could take five years if things don't go well."
In January 2006, Gazprom's capitalization hit a record $210 billion, thereby outstripping U.S.-based energy company Shell and catching up with world leaders Exxon Mobil and Texaco.
