Sunday, April 12, 2009

Gazprom Continues its Expansion: Gazprom opens first european office in Riga

Gazprom opens first european office in Riga

RIGA- Gazprom has opened its first European office in Riga. The company expressed interest in Latvia due to the important energy projects in the region, including the gas pipeline from Paldiski in Estonia to finland as well as the Nord Stream pipeline, running from Russia to Germany.

Gazprom said that connecting the underground gas storage facility in Dobele to Nord Stream is worthy of consideration to further pursue their interests in the Baltics.

In 2008, top Gazprom officials hinted at possible collaboration on a new nuclaer power plant project in Latvia, taking 25 percent stake of the project.

Gazprom, the world’s largest producer of natural gas, owns 34 percent of Latvijas Gaze, while Itera, a private company linked to Gazprom, possesses a 16 percent stake.

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