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654

China Intensive Growth Allures Gazprom

The company is going to create a joint venture to invest...

Gazprom is likely to buy a stake in a Chinese investment firm China Gas Holdings, which controls 20 percent of the state gas infrastructure market. The size of the stake was not specified.
The company is going to create a joint venture to invest in municipal gas infrastructure projects in China.
Gazprom said also it is interested in working with other players, which are active on the Chinese market.
"Gazprom has been working very hard to get a foot in downstream markets over the past few years," said Ron Smith, an oil and gas analyst with Renaissance Capital. "They're doing this all around."
China Gas has interests in very multifarious businesses as fashion apparel retail, property investment, and financial and securities investment, according to the Bank of New York's depository receipt directory.
China Gas considers to explore the possibility of piping natural gas to northeastern China from Russia.