Gazprom seeks to harness Bazhenov's might

摘要

Justin Jacobs, LONDON: Gazprom is finally turning its attention to Russia's shale potential, but as it does the gas export monopoly will focus on shale oil rather than gas. "In contrast to shale-gas extraction, tight-oil production is of considerable interest for Gazprom and we will work actively on this issue," Alexei Miller, Gazprom's chief executive, said after a board meeting for the company's oil-focused subsidiary Gazprom Neft. Russia has spent years dismissing the significance of the rapid rise in shale-gas production in the US. And although it has started to recognise the important effects shale gas has had on natural-gas markets around the world, it apparently sees little imperative to pursue shale gas in Russia, especially as the country has vast deposits of conventional gas which remain to be developed.