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2014-07-02 18:45:00

ROSNEFT VS GAZPROM: THE BATTLE IS BEGINNING

ROSNEFT VS GAZPROM: THE BATTLE IS BEGINNING

Rosneft has raised the stakes in its campaign to strip Gazprom of its monopoly over Russian gas exports. In a sharply worded statement on Tuesday, Russia's state oil company threatened to take Gazprom to court unless it opened up a planned pipeline to China to rival gas producers.

Gazprom has been gearing up to build the Power of Siberia pipeline since signing a $400bn gas export contract with China in May. Linking vast Gazprom controlled gas fields in east Siberia with the Russian Pacific, the 4,000km pipeline will feed gas to domestic consumers and to the Chinese border.

Alexei Miller, Gazprom's chief executive,…

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Tags: ROSNEFT, GAZPROM, OIL, GAS
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