Russian Gas Giant To Encourage Greener Cars With Natural Gas Stations

Moscow, Russia (AHN) - To encourage the manufacture and conversion of more European cars that run on natural gas, Russian energy firm Gazprom plans to build a network of gas stations across Europe.

The company controls one-fourth of the world's gas reserves.

Alexei Miller, chief executive of Gazprom, in a shareholders meeting in Moscow on Friday, said, "We are proposing to our European partners the creation of a network of natural gas stations in Europe with the participation of Gazprom."

Natural gas is considered less expensive and a cleaner source of energy. A large number of vehicles in Argentina, Brazil, India, Iran and Pakistan already run on natural gas as fuel, but few European cars are fueled by natural gas.

Another expansion that Gazprom is studying is a foray into liquid natural gas production and distribution. Within the coming years, Gazprom aims to control 20 to 25 percent of the LNG market, said Valery Golubev, deputy chief executive of the power firm.

The company earned $39.5 billion in 2007 from natural gas sales to Western and Central Europe. This year, it expects to rake in $64 billion from natural gas sales outside the former Soviet Union, the firm said in a statement. Gazprom expects its exports outside the former USSR to reach 163 billion cubic meters, with a price tag of $401 per 1,000 cubic meters.