The flagship of a growing economy contributes to the Russian GDP 8

With 300,000 employees, 150,000 kilometres of pipelines, 20 of world gas production and one of the first five stock market capitalization in the world, the semi-public gas, Gazprom monopoly, is the image of the Russia, a titan. The flagship of a growing economy contributes to the Russian GDP 8. Apart from gas fields and pipelines, it also controls the media and banks and invested in oil, nuclear, electricity, and tourism.

At the international, the Russian giant does not hide his ambition to simple supplier of material first to a global energy empire. It has projects of construction of gas pipelines all over the place in Europe and Asia. It is in discussions with gas companies of Venezuela to the India via the Algeria and the Iran. It is also selling liquefied natural gas (LNG) term in the United States. In Europe, the heir to the Department of the Soviet gas is already implanted in the markets of most of the former satellites of the USSR. But what Gazprom now wants, it is access to the distribution markets in the European Union even.

Gas deficit

The global expansion of Gazprom, detained strategy to 51 by the State, is based on huge reserves of gas in the Russia, the largest in the world, estimated at 29,000 billion metres cubic. In a context where aggregate demand should double within twenty-five years, and where Europe dependent on Gazprom for a quarter of its gas, the Russian giant has serious cards to dictate the rules and to continue its expansion.

The reluctance of Europeans therefore seriously irritate Moscow, which has well monetize the very partial opening of its gas fields. If you want to access the "Holy of Holies", need to make concessions, had said in essence Vladimir Putin to its European partners, end of may in Sochi, inaugurating the theme of "reciprocity" that will be addressed at the G8. Forces report appears in its favour because Europe, as often, replied in dispersed order. The Germany surpassed all its neighbours, establishing a partnership with Gazprom through BASF. The Italy with ENI wants to follow the example and open its market in exchange for shares in the Russian giant. While Britain remains very reluctant to the expansion of the Russian titan.

It is true that the Mastodon remains particularly opaque, said Vadim Kleiner, analyst at the Hermitage firm complained about regularly. " We don't know, for example, what activities are profitable and which are not. "In addition, Gazprom is closely linked to the Kremlin, who practice a more distant capitalism of the rules of the market. The Europeans suspect Gazprom to the secular arm of the Kremlin's foreign policy. Indeed, it is the Russian President himself who urged the Duma to adopt just before the G8 Act on the monopoly of Gazprom export, contrary to the rules of the competition and European interests.

But what alarm especially the West today is the risk put forward by the experts that Gazprom come to run out of gas by 2010, lack of investment. One of Zapoliarnoe major current (Urengoy, Medvejie, Yamburg) deposits are in decline and Shtokman field, Sakhalin and Yamal will produce nothing before 2010, or even 2012.

Vladimir Milov, President of the Institute of energy policy, evaluates the Gazprom investment in extraction with only $ 12.6 billion from 2001 to 2006 against more than double in the construction of gas pipelines and acquisitions abroad. Gazprom says took things in hand and said an upcoming investment of $ 4.6 billion in current deposits. But according to Vladimir Milov, this will not suffice to reverse the trend. According to him, the gas giant could run a deficit of 100 billion cubic meters of gas by 2010.