Gazprom to double European gas storage by 2015

By JACOB GRONHOLT-PEDERSEN

Russian state gas firm OAO Gazprom plans to almost double the capacity of its underground gas storage capacity in Europe by 2015, the company said on Friday.

Gazprom deputy CEO Alexander Medvedev said in a statement that capacity in Europe will increase to 5 billion cubic meters by 2015 "to guarantee the security of Russian gas exports."

During the latest cold spell across Europe, Gazprom has been extracting gas from its European storage facilities at maximum levels of 38 million cubic meters a day.


Dow Jones Newswires

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