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Itera Abandons Foreign Projects

Russian independent gas producer Itera plans to give up some foreign projects

The company plans to focus on the development of its business in Russia.

Itera earlier sold its 4% stake in ArmRosGazprom, which supplies gas to Armenia, to energy giant Gazprom. In addition, Suntera Canada, founded by Itera and SUN Energy (India), has quit the Canadian Maple LNG project, selling its 40% stake to the Dutch 4Gas BV.

The company's spokesman told the reporters that Itera plans to leave its projects in Africa and Moldova but will continue its programs in energy-rich Turkmenistan and also in Belarus. Also it is going to start energy projects in the Urals and Volga regions.


Source : RIA Novosti