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Gazprom seeks deal with Libya

July 10, 2008|From Bloomberg News

Gazprom, Russia's state-controlled energy company, offered to buy all oil and gas available for export from Libya, threatening to grab greater control of Europe's energy supplies.

Gazprom Chief Executive Alexei Miller made the proposal to Libyan leader Col. Moammar Kadafi during a visit to Tripoli, the Moscow company said. Libya exported about 1.53 million barrels of oil a day in 2006, almost enough to supply Italy.

Gazprom considers the country its priority partner in North Africa and said it registered a unit called Gazprom Libya in Tripoli. Less than a month ago the company opened its first African office in neighboring Algeria. Russia, the world's largest producer of natural gas, is seeking to lead closer coordination among nations that produce the fuel.

"The Libyan side positively evaluated Gazprom's proposal to buy all future volumes of gas, oil and liquefied natural gas assigned for export at competitive prices," Gazprom said.

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