Gazprom's North African Agreements Boost Leverage in Europe's Gas Supply Future, an Industrial Info News Alert

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Tue Jul 22, 2008 7:01am EDT 

  JOHANNESBURG, SOUTH AFRICA, Jul 22 (MARKET WIRE) -- 
Researched by Industrial Info Resources (Sugar Land, Texas) --
State-controlled energy firm Gazprom (RTD:GAZP) (Moscow, Russia) has
offered to buy all of Libya's spare capacity in oil and gas, with the
natural gas targeted for resale to Europe. At the same time, the company
is in talks with Eni S.p.A. (NYSE:E) (Rome, Italy) about the possibility
of joint gas projects in Libya. These moves follow the pattern set by
Gazprom's agreement, signed in June, to cooperate with Algeria's
state-owned energy company Sonatrach (Hydra) with the Trans-Saharan
pipeline in mind.

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