scheduled to begin before the end of this year also president putin has ordered gazprom to pay more attention to emerging shale gas market that as some experts believe may challenge gazprom predominance. home is a very welcome to the show thank you very much for being with us and all that thanks thanks and let's start with the news with the news related items well first of all president putin according to the news has asked nava tech to cooperate with gazprom on signing contracts on your mouth liquefied natural gas exports how do you see this carp ration does it mean that gazprom will have to share its consumers with no overtake how big is potential of the russian share on the global energy market but the situation is quite different there is no conflict of interest here where and one board especially in view of the problem with ten percent shareholder

of know what their and everybody should do its job with its partners what and shareholders will develop production as if occasion of the gas and. export company of russian nation or gas including kill and you should do our utmost to get best possible conditionals. and. final investment decision of your mileage it will be done in this dissipated next year we will. contract the gas and we'll really do our preliminary job to find the burst markets ok in other news related question bill gary received a significant discount on russian gas about twenty percent it's reported well reports say the discount is given in exchange for the agreement to build the south stream is a truly sarong treatment this it was just a lucky coincidence that two. everyone's been signed new long term contract ten

year contract with girls to deliver two point nine billion cubic meters of gas. for the bulgarian market and the final investment decision on. part of south stream but in no way this agreement or subject the one to another so we are not. a commercial activity with investment projects obviously it was in the interest of well being. to finalize it in due time and we have done it as planned that should have a plan to sign the contract the one we call about you too. soft but it was performed in other words it was a business decision not a political solution. is it true that the south stream may be double the estimate i mean the cost some analysts have estimated the cost as high is over twenty billion

dollars and gazprom is expected to pay half. can it lead to bankruptcy if your company. first of all of this figure is far away of the religion if you really believe if i will play chess that it should be diminished two times as a base actually it will be it will be substantially low and the final figure will be done as well as all the project the communication with the radio but. not stream . so three projects will be economical canonically fusion project will provide us absolutely competitive perrie have to transport our girls directly to you so you you count on the calculation that that sounds the move payback but do you how you how would you assess the risk of the project the south stream project in general has it's not.

exempted from the third energy package but we didn't apply for exemption because we phrased that fortunately. strange behavior of european commission when we applied for exemption in case of continuation of the nots three. projects which. in which all the russian girls could show up but there was a list we didn't get hundred because. it's too few to feel exploited and. this topic human became a topic of the meeting between president putin the chancellor merkel and because we can't tolerate the situation when our big issues could not be fulfilled that somebody believes that so but again should show up in the pipeline complete ition of the religion could start feels a market not before the market and not an expert pipeline getting back to the prices the south stream deal was striked amid accusations in unfair pricing

in the european commission's probe is gazprom ready to to to make concessions because the prices on the spot market are already corrected about the price revisions standard practice in our export contracts and it's a little bit strange that now everybody is looking at all gas prong. diminished price in the reflection of the some market changes but in the history of our export activity it was quite a number of occasions when we applied for the price increase and we have reached a substantial increase of the price so it's a normal business practice to the market situation to keep the gears competitive and now we're sure that with the price revision we have done and by the way in bulgaria it was far away from twenty percent discount from. friends calculation was you could calculate it was a different base. ok maybe relation refers to the previous prices. you see we agree

that commercial terms and can you should not be disclosure of the normal practice but again i believe that we in no way could be reasonably used for. misconduct because our prices are not established by us it's established by the price for buildings with oil in the press and by the way all products it's a commodity. basket it's traded in the international community exchanges are you suggesting that the european union is trying to get a discount on the gas promised gas and that's what the european commission's investigation is all that that book area is part of the european union does the discount have anything in common with that probe no absolutely it was a standard price revision procedure especially the use of the old contract expired

actually prepared to a new contract and i could tell you that bulgarian prices absolutely in compliance with not only was our average weighted price but also with the specifics of isolated markets like like bulgaria or market or sarah being so there is no discrimination of any country and there is no any special preference for any country why is greece out of the project having some string noise pages not closed with the main road is down but we still in consideration of potential connection between the south stream through greece to italia but now the routine and usual routine course targets. a second pipeline to eat a levy a greece was a second best option in this respect but when the routine cause changed and go in career slovenian to eatery to the reserves there is no. current. we don't see

enough of the month in italy to bring conditional gas but. construction of such such a pipeline is a long story so so if the greek economy recovers can't can concretes be back on board at least production pipeline could be could be envisaged but it definitely will depend on how greek economy will recover because currently existing coaching is allowing to deliver gas and the level of demand is. around three billion cubic meters of gas that israel and three input of potential so let's see. we hear that the demand for gas in the europe is going down it's becoming lower and lower every every year so amulets even suggest the south stream once built may not be fully loaded is got from ready for such a scenario no pipelines will be loaded because. two type of gas

stream it's all gas. up to musicians of expert flaws and they were the sorts of things at risk and that's when you guess how big bill because a portion of when you guys depend on for a good month but. always will see a new local production of michelle guest in europe is going down dramatically in such that it's like great britain and. hall and so. you. will not only. transit there is about also to keep resource for additional demand so so so so you are not getting ready for such a scenario because because because the company so so so so so you because you are ready to load the pipeline fully whatever happens is that true it will be a load it will be left in the option. says alexander deputy chairman of the board

gas problem and director general of gas problems expert diggnation spotlight will be back shortly after we take a break so stay with us we'll continue this interview in no time going to. be about balkan war criminals we have a lot of. groups. also i've used in the right you know just climatic words like when you have that knowledge it wasn't course it's muddy when i was fifteen yes so you can liberate their women and you certainly can't do it through the barrel of a gun only effective social changes can be asked.

ask again men and women. and not to across. the fish on. the shelf and. stop people in the obama administration talking about how much they care about the women of afghanistan it's not true they don't care about the women of afghanistan. he used to. be. in the.

wealthy british. market. can. find out what's really happening to the global economy with mike's cause for a no holds barred look the global financial headlines cons a report on. the mission in three cretaceous three.

four judges is free to make humans three. three. q type three. old free broadcast quality video for your media projects and free media.

welcome back to spotlight i'm al green of in just a reminder my guest on the show today is alexandra made very deputy chairman of the board of gazprom and director general of gazprom export division mr mcgee this south stream that we talked about a minute ago has a competitor in the town up. pipeline if it is constructed some analysts say that it may become a real compared to gazprom in that azerbaijan can sell its guys cheaper than gas prom is it true and is it is it really

a threat to your business you know we don't consider nies a ton up north in our book or west or east although milk is a competitor because. this thing of our project is different well diversified export rules and all sorts of other prisoners are trained to diversify sources of supply but before doing could they should finally identify a way where is a source of expensive it will be to not only to produce but also to deliver and to sell this is b.s. with gas already sold in the full capacity of was north stream and south stream as far as i know there is no expert. from. one of these projects and the greens are always very simple not construction pipelines and you will solve the gas more or don't produce the gas and he was also the. expert. on the take or pay level is the more than four trillion cubic meters of gas fields the year of two thousand

so that's why i feel very convinced nobody. could interfere in the project well speaking of interference ukraine is known for trying to interfere in your business more than once now the latest. news from kiev is that the ukraine and declared it wants to take part in the time nop project is it just a war of words or are they really really ready to participate logistically for me it's very difficult to imagine chris could jump into the project but everybody could could see whatever ideas is coming but they can come from the east and the brink of a jump there and they and this industry knows what to do our partners knows what we're doing but the only sin which were a little bit concerned that instead of providing a proper. environment in europe with direct intervention of or in our

business because i believe it's complete contradiction with the market principle when the producer of the product is not allowed to deliver its product to the customers. and other news related question there are reports that gasper on has committed more than thirty eight billion dollars to develop an eastside derian gas field and build a pipeline to the pacific port of lot of our stock analysts suggest that it's a bid to lower the dependency on exports in gas to europe is that true to confirm it no diversification is one of our slogans and the philosophy not only to diversification of the export of all the but also diversification of products we produce and to produce not only the actual gas both things for will for lindsay but also electricity and where by the way the biggest power generator in russia as well as all and on products and allows us to have sold to

a nation will hedge but also importantly reciprocation is a market diversification southeast asia is the most fosters grows grown region in the world and that will mean that they will consume energy in the fastest possible way and such markets like china. japan. india and maybe in the five six years pakistan bangladesh not to forget vietnam will provide a premium. market to gas from and where it just would you leave as much as it will be necessary to this market well if you like to talk about. diversifying your business not only you people from gazprom in general but as far as i remember gazprom has been ignoring talk about shale gas eve be in the studio more than once and you called it a bubble i mean and your boss mr miller compared to for example i think shale gas

you still have the same point of view and chill gas or is it changing you know but we should. look at this this topic in a very comprehensive way because it's a lot of still a lot of myths in this topic it's not occasionally that mr president the facts on toll that if it will continue legs or. not we zabel stave us out trousers and my gears atrocitus an x. on the expensive so it means that the current situation and the price of gas in the american market is very low to two dollars of a million of b.t.u. and it's not supported. production in the. wrong long ground actually supported ways are like a liquid hydrocarbons a whaleboat currently in the majority of the shale gas reserves but. still the structure of pure gas reserves will not allow to deal with prices that's

why many companies are selling as a set of really so and we should not actually complain about show gas very well lucian sold in the u.s. because it opened a substantial technological appley cation for the neutralization of gas interest. and in bank areas in the rail transport and actually the vote for the gas business into them does bring business that's why we support the motor fuel topic in our plans not only in transportation of the mobile transportation but also in maritime transportation and i believe we could find a lot in common with our canadian and american colleagues and then we already got some proposals to work to give in but even given complication of this and just to replace ten percent of the trucks in europe could create a market of additional eighty billion cubic meters of gas barrier so prospects

looks very nice and if the shale gas is helping to do it with the support of the shale gas ok so so so so you're moving all that i mean your point of view and shale gas well you seem to be really to be paying attention to what the president says about your business well let me put that want to quote him recently talked about shale gas and what one sees what he said we must take into account current developments and have a clear view of how the situation will develop not only in the next two or three years but with the next decade and quit does it mean that that gas probably will really be turning its face toward shale gas and will be changed but we're never close ties to this dog because it was for all of the problems inside and out. but we should not forget that shell gas associated with shale oil which is another topic and actually exists when it's combined it's created such a situation like we see in the u.s.

. today but you know nobody could stop technology called progress but. shale model of us could be. could be developed in the europe or even in china or in russia because russia also holder of substantial reserves. resources not reserve because the quality. the resources to reserves it took a lot of time and money but i believe for the current. century we will be busy with our traditional reserves maybe in the more difficult areas like arctic shale or eastern siberia and far east like china and the project in which we can meet it will raise the investment decision and construction of a new pipeline. about us for us folk so i believe i do live over to be in good in business like usual and what will work for a regulator has just lost the work since you've mentioned the arc six. there is an

opinion that that the shell gas all that story of shale gas is closely connected to stockman out there and that the big big big story in your industry people say the gas pump pulled the plug on stockman gas field because of the increase in u.s. reliance on shale is it true and why did you really. believe this model was the main market for stop and shelby shell the american and canadian market now with us and even considering to become an exporter by the way it's not nor with latest with a low gas to be exporting from from north america. but. i mean i mean there's a market in asian change but it doesn't mean that the law is the market it's not occasionally again that we've just recently. come for except. two million tonnes of illinois. and. by the way it's another good news for gas pros

at research. first then courier was. not so good. which was not exploded for many many years or actually it will mean that we could be used both ways west east and east west using historical many time it'll energy minister alex. sandor navarre expects russian gas exports to fall four to five per cent in two thousand and twelve why do we see export figures going down and what part do you see in what parts do you see the phone demand. but two factors here the first one is a very weak economy situation in europe and the second one. is the temperature situations bourse in some not because somebody was going to hold that's why their condition didn't consume too much gas. i mean the big three cities

called you can consume too much gas and. until now we don't see. good temperature for consumption. in europe is substantially higher of a village waited for for the last maybe fifteen twenty years so there is no targeting us just to sell as much gas as possible our target is to sell as much gas . will be efficient to sell and that's why we. are not just running for good round figures specially we use a we're in a position to optimize production of our main gas fields and it will be in the decline of production by the way of oldfield's who most lower than expected in the past plus we introduced by new field which is one of the journalists in our crown. and guess who is transport it was in yuma sense in

a very efficient way so we as i told you we will not just deliver to the market we will develop the market including. your placation of gas thank you thank you very much and i just help have that. new ice age is not is not an option you will motivate me unless i decided that extracts were having and just a reminder that alexandrovitch veggies deputy chairman of the board of gazprom and director general of the gas pumps export division and that's it for now from all of us if you want to ask yourself what life. would be back. more comments on love and internet censorship and movement. and take it as he says.

he will do the trick to look a little trashy but as the best and brightest take minds gather in moscow some came to work while others came to play to get up close and personal with devices that recreate masterpieces and scanned russian treasures from inside and from space to keep us safe from oil spills and forest fires unleash your inner gadget geek as i see major search for the next big thing in the computer world and russia's own giants of numerous goodies going to take the fight straight to their home as it is known to come here on a long t.v. we've got the future of coverage.

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