Russian Energy Chief Brushes Off Gas Fears

The chief of a leading Russian energy company has brushed off fears that the Federation's dominance in gas supply to Europe could be dented.

Vagit Alekperov, head of the oil entity Lukoil, said Russia's established infrastructure, twinned with flexible pricing arrangements, would ensure its premier position.

He was speaking in an interview with Russian broadcaster RT.

“Gazprom will retain its share on the European market thanks to the infrastructure it has set up over decades and the flexible pricing policy,” Alekperov said.

Asked about the challenge of shale gas across Europe, he said that shale deposits had been mined in Russia - there was even a town near St. Petersburg called Slanets, which means "shale" in Russian. Alekperov said all types of hydrocarbon should be mined, and the challenge is to find the best and most efficient technology.

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