Putin believes gas industry future is technological modernization

Nov 20, 2001 01:00 AM

The future of Russia's gas industry is technological modernization and optimum financial and production systems, President Vladimir Putin said at a conference on the gas industry development. "We need a detailed program of the industry development, in particular, the development of the unified gas distribution system," Putin remarked.

The president called on Gazprom and the federal government to consider seriously the question of property in the gas industry, and drew their attention to the problem of intermediaries. The intermediaries "take a sizable part of revenues, which is not founded sometimes."
"They take that share both inside the country and abroad. For instance, in some European countries Russian gas is sold for 2.5-3 times higher prices than the export prices of Gazprom," the president said. "It looks like the gas extraction and transportation to the border are valued twice cheaper than the gas delivery to the client," Putin said.

Source: Itar-Tass
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