as promised deputy chief executive alexander medvedev on our interview show spotlight they talk about how russia's largest companies creating a secure network for gas deliveries to europe stick with us. hello again and welcome to the spotlight the interview show on parts and i'm al good enough and today my guest is alexander medvedev the. russian prime minister

vladimir putin came forward with the idea of creating a unified european energy network it must secure fast and easy delivery of natural gas from russia to european consumers and help avoid transit problems in this plan that the south and north trains the new pipelines developed by gazprom along with its european partners will be integrated into the system now what else will it take to fulfill the seven bishop project joining me now is deputy chairman of the gas probably management committee and director general of gas prompt export alexander admits that. russian prime minister vladimir putin has been criticizing europe's idea of implementing the so-called third energy package the europeans want to diversify energy market aimed at creating equal competitive conditions for all oil

and gas suppliers but putin says this will deter investors from pumping money into the new gas projects but some critics are saying guess from state of affairs is far from ideal. the monopolies biggest foreign shareholder the german consarn on he's planning to sell his gazprom shares worth point five billion dollars on the other hand more european countries are planning to join the russian gas exporters south stream project. home is to be very of welcome to the show thank you very much thank you very much for being with us welcome well on the eve of his visit to germany prime minister putin shared his views with. germany and their article which is called russia and europe from learning the crisis lessons to a new agenda in partnership it reads i quote in a few years we will have worn interest to share and

a deficit of energy resources that means high prices for european consumers and quote what exactly makes russia and probably gazprom so unhappy about the new nepean engine rooms this topic was a serious subject of a recent celebration meeting in brussels well instead of just looking for work it was at the u.s. history of russia european union dialogue we concentrated i was thinking and while it was a serious ones is introduction as asserting as you make it should be imitation of which is spoiled for being called next year and there's a reason of our concern that if this package will be implemented. it will means or the interest of serious players to invest in infrastructure will be substantially duty or egypt and if it will happen. it will be no investment to solve the lack of

capacity this was in upstream in midstream and there's a result supply demand rules will play and. customers will be heated by as a skyrocketing prices well here's an example of the third energy package applying the polish gas system once to give access to your model year apart like two third parties what how does it affect the interest of gazprom and what may be your reaction to that but in case of poland we're co-managed to find acceptable solution bourse for for us before european commission because they've been part of a long lost the negotiations respect of new intergovernmental protocols as well as a corporate greenland's and as a result for strictly defined what does it the mean free complacency is

a pipeline because currently in ten foreseeable future it will be in norfolk up basically in the pipeline because all the capacity is booked in order to do it against the wall and to germany to france and we're not creating just two seats only there's a dog and two but of course. we are but can get an order to give you what are contracted will you to the customers and the major question which is not on sort of the european commission how in the case a sub party x.'s will be implemented we will be in a position to execute our obligations annual obligatory want to be able to geishas daily ability because our customers has a very strong flexibility is a quid order in accordance with a confidential storms certain war looms and when it's called the they or their income or when they swarm there that includes by the capacity is this idea for our customers and the last but not least the question who is this. so-called

nucleus which could x. is a sort as a search party because. i believe is a complete. it is important but in order to compete you should have substance to compete with us and in our industry you should have a guest to compete iser it's produced guess or contracted yes and still not clear of whom european commission see is a potential and. existing confusion pipeline system at the here russian energy dialogue held area this week russian energy minister schmutz co described the present state of relations between russia and e.u. in the energy sector as a lack of trust well is there a chance that this lack of trust may be may be overcome next february when the e.u. summit on energy will be held. in spite of all. uneasy.

events around corporation i would like to inform recently during the meeting for me state and get a president mr miller it was agreed that a special working groups will be created between gus braun and the european commission which will be did you created two major topics one will be catered to infrastructure projects. and already in february it will make a presentation to european commission it was all aspects of this project and understanding that this presentation will be done in the presence of major customers with the ridges the also come when turned over to on such a ration situated to them and the second one which i hope will happen middle of next year. base those workloads is second the working group is that you created to the nation or gas as a fuel of the twenty first century and this is

a major topic for european commission because during this work we can group should prepare to work road map of cooperation between russia. particular gust from the european commission in the. sphere ok i hope you're not going to bite me. but ed because i know you are sick and tired of this question but i will be keeping an ask asking over and over again if there are negotiations with the e.u. fail and the problems which mr schmuck i was speaking this who will be detained rerating will gazprom give a green light to to the creation of a sort of a opec style cartel and gas will but also told terms of i don't know i was out of. regime and things are getting the study in the current system with the possible due to the existence of the system of long term contracts but if anybody

in the europe is the means to destroy the existing system wastrels example of the oil industry when the seven system of systems of big corporations have been replaced by a good spot market. then the situation will change because if it will be normal again surely on the side those are going to humans then to make it clear it will be no obligation for most but i'm rather sure that nobody in the sound sense of of the mind will try to move this world ok so it wasn't. it wasn't a yes but it wasn't and never yeah so it's well maybe maybe not. for for creation of the system in which we will even government. we benefit we don't need even a car to begin with because i was sharing the gossip places very substantial and

surely we are not new for the liberal west markets and that's part of what is a pioneer might get to be better is ation in germany of one in one thousand city would have created a joint venture between gus was part of the sort of. be a serf i believe and nobody you made us a gift nobody told us they can market share we heavily invested in pipeline system in underground storage is a visit is old now with over in german market fifteen percent of the wholesale. gives market in german year. we also berates in underground storage supply and come across the most was a guess which you are the ground storage is in the u.k. we were very close though a customer to see the detail sector it was a joke it was a no where in the position to feed the gives of the pretty beautiful lake that it was because most of what i was one history of shells and we even had a couple of majors there and the british premier league mr medvedev speaking of the

liberal marxist that you were mentioning a minute ago. norway and qatar are giving more flexible terms to to their european partners what can grasp from do to make russian gas more competitive are you ready to compromise on prices and what about the other as egypt is very often presented to one of these offices because we know like it from inside. of a joint venture sort of a subsidy it is close those across those with wood do know how the system works and it's acquired. exaggerations and now you could buy gas was a guaranteed supply on the spot the basis because a sport. could get enough you know the uninterrupted bull supply and buy as it were . yes that the. spot but isis. up and see you three hundred dollars which is very close to two hour long total quantity prices and it's

a reflection that supply and demand is the system is working and. that is no it does but they show for the gears and the market will react and obviously it was economy slow down in the europe and in the world it was more gas produced in certain projects but. it's no in the news fusion no additional capacity will show up and didn't major fields everywhere in the world but there sure is going down the inevitability so if investments in upstream and means that you will not go up and it's a billions and billions of dollars seventy year. it will be a deficit alexander the deputy chairman of the gas problem national committee and director general of the gas pump export spotlight will be back shortly after a break so stay with us.

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story on our t.v. . sweet and clean. and fair use for. radioactive and dangerous. even the dead and desolate. they all keep their unique secrets their bottoms unique lakes on our team. welcome back to spotlight i'm going off in just a reminder that my guest in the studio today is xander to me there's a deputy chairman of the gazprom management committee and director general of gas

from exports most of it if there are attempts by some consumers like italy's edison spa to review their take or pay contracts with gazprom i know you're very proud of these concepts we've been talking about it and our previous interview and this studio well is gas problem ready to compromise with that isn't is there is there any risk that that more european consumers may follow its example well trust a full. sized bowser plant that actually delicious. so the rights and obligations and the other was a basic rise from both sides is to call the price revision. on the table basis normally it's one city in five years and it's not just automatic you should proof that some. and serious happened you know that the call for the price of evasion and in the history you ask to increase the price of

a custom was to decrease the price and it was always normal normal come initial negotiations prices heated seriously western economy actually inspired the fact that rational gas was ease and will stay competitive the question of competitors of our customers arise and actually in the least those discussed them with all cs of a subsidiaries injured vicious and sick of low preference and that also crime in the us asking. was going call in the market that is a possible to accommodate the changes and you are doing this. for example with who introduces a certain award in which three to differently. companies or was a long term basic contracts where savings for the warriors on the sport in dickson indexation but simulate tenuously the different flexibility in this context and as a result of the changes a lot so that i waited because presenting the all in the press but the basic rule

obligation of the customer buys at the takes a guess or two plays a guess should not be cheated because then it will mean that it will be new brave world with unpredictable consequences true is this the per share from the european union gas promise diversifying its supply lines in mainly to china but as far as i understand you haven't hit reached an agreement on prices with the chinese partners everybody is waiting when when it where is that going to happen when are you going to agree. on the price so popular web. road maps of the old map. changes colleagues from c n p c major. of the oil company of china and in that what those with this roadmap commercial called it should be signed the middle of next year and. looking back. with the operations that work of may go to substantially two months in a commercial negotiation because we have. signed the basic expanded

basic terms and conditions it was not easy because in spite of the hope of people believe that the nation of gas is easy product it's not so simple and conditions of diluting gas. should be defined in many pottery with the dozens of but i'm interested in a way to quantify the fix and now it surely is only open each shoe is. certain parameters of the price for what would have a price for the employees which was also not these two when you go share it but no it should be only a couple of parameters should be defined it is and this is jim called work and will start construction of the pipeline to be connected was there a chinese spy plane system in order to expand your present thin air on the asian market in the east asian market gazprom is planning to boost the saleen three four and five projects and we know that while that shell is rated participate in the

south wind project can you name other companies are there other foreign partners that are ready to to invest into these project. absolutely right in the reserves is a very attractive reserves and will read you it can vary actually in the key inskeep local sahal in the city project the first results are very promise and. we in the frame of our agreements with fourteen part of those if we decide to invite foreign partners and colleagues in cycling to me to enrich to be says they have so . i am sure that i'd join subject to the competitiveness of the proposal and. where in preparation of memoranda which shall we sure will. but over the area of corporation b three in the show and guys from not only in

russia but also outside russia because of a principle didn't change we were happy and open to invite foreign partners to develop our jobs that it is all about subject that in exchange to get access to the shore schools projects. somewhere in the world and i do hope and we do know that shell has good as it so which could be of interest for us and the four will find a solution which will be acceptable for us and i was for them then this corporation could have spared and could include those computers and suffer the most because you know that you were interested i mean you personally were interested in the in the. financial yes projects but i read that that gazprom has has put aside the development of the arctic fields the stock one and the bovine name cover fields which will delay the liquefied projects why did it happen nothing mystical behind

the we were awakened from the market and if market doesn't that it was a war looms there is no need to in the west today and just formed the international body and go for one of the your. respect or stock when we are still targeting to take final investment decisions on pipeline gas and on all injury in next year so just two days ago it was a board of directors social development e.g. and we took all the decision jointly with three inches and in the region part though so. we are as sure as a stock will move we will give us a splint in two souls and six to the best of injury in two thousand and seventeen the food will take final with us when decisions in. ok i have a couple of quotes that may may sound pretty worrying for consumers well demand.

for the fuel remains pretty low in europe but in the middle of this year you suggested that the european demand would return to the pre-crisis level no later that by the end of two thousand and thirteen that was couple months ago now in the ember last month you were already expecting the recovery of the bear market by two thousand and fourteen or at least two thousand and fifteen so you are reviewing your expectations why and should. consumers about to be precise i was basing that about the roles of the among the well as between supply and demand. will be restored and it's a little bit different questions it will read you see is a demand from a sugars in the europe on a leash is growing but not everywhere in such countries like germany france the demand is already distorted was a pretty close since level but such a cunt that is of. europe like you truly like bulgaria greece is really.

the demand is far away from the previous ones of successful pre-crisis years and. it influences the offtake war looms on that of a quantity and also the new. supplies which were diverted from the united states to europe and created certain disabilities but in view it was inevitable declaring the production of the euro which is surely going with the region trade. gave to sponsor the bells will be restored fully just two cells of fortune or fifty and above that you want is over it restoring closer quickly. we have reports that is that true gas is one of the biggest shareholders of gazprom for a shot is raised to sell its three and a half percent of your shares and the be the kind of bank is said to be the

probable buyer but the finance minister couldn't is quoted to say that he didn't consider this issue at all so can you confirm that the germans are ready to sell and if so who would you like to see as a potential buyer whatever the shareholder has a right there's no told you to buy but also to sell and if it will analyze the economics of potential sales it will give a fortune to to you on the regards because they bought billion. expenses for who are far far below and their decision to my mind is a reflection of the economic difficulties we should be whether aggressive face and . you long will you change and probably it's a reflection also somewhere was a mistake they wait but with the sort of the. we will have

a new hole that was you on the regress was the biggest foreign show hold about the approximately twenty percent of our shared science offense of different investment companies but i would share holders and it is a more diversified investment basis a bit for the company and but the liquidity. interest to the sheriff so all the time will show whether this is in the field of augusta was good for them or not so so you do you do confirm that they're ready to sell but you don't have anybody who we you would prefer to have preferred to borrow yeah i mean you don't you don't really care actually. what. that was it was a solid base will come with will be good for us thank you thank you very much mr medvedev and just to remind you that my guest in the studio was alexander in the very of who is the deputy chairman of gas pramanik shipment committee and director

general of gas problem x. parts and that's it for now from all of us here if you want to have your say on spotlight we have someone in mind you think i could interview next time you drop a line at al gore in up at r.t. t.v. dot are you and let's keep spotlight interactive movie back with more friends and comment on what's going on and and outside russia until then stay and party and take care.

all. he. says.

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