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Politics : Rat's Nest - Chronicles of Collapse -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (4932)	10/27/2006 5:38:18 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 24206

Russia's Gazprom warns of a new winter fuel crisis Thu Oct 26, 2006 11:43am ET Market View MOSCOW, Oct 26 (Reuters) - Russian gas monopoly Gazprom (GAZP.MM: Quote, Profile, Research) called on Thursday for the state to step in to prevent a repeat of last year's winter fuel crisis, which it said was likely because of a poor state of readiness in Russian regions. The world's largest gas producer, which supplies one quarter of Europe's gas needs, had to restrict deliveries to some of its European customers last year to ensure there was enough for domestic users who were enduring an exceptionally cold winter. "The unsatisfactory current level of reserve fuel stocks in (Russia's) regions causes serious concern. There is a threat of a repeat of last winter's events, when many regions turned out to be unprepared for a sharp decline in temperatures," Gazprom said in a statement. "The situation that has developed requires immediate intervention by state regulatory bodies." Gazprom had to briefly cut its gas supplies on the route to Hungary by 20 percent in January, and said it could also reduce flows to Italy and Austria, although it said it never fell below its contractual obligations. It soon restored supplies to 7 percent above contractual volumes to European customers and 40 percent more than the contracted amount to Russian customers. The company said in a statement that it planned to significantly raise investment in 2007 -- to 531.78 billion roubles ($19.82 billion) compared with 373.14 billion roubles planned this year. It also slightly increased its 2006 production forecast by 3 billion cubic metres to 551 bcm. Continued... © Reuters 2006. All Rights Reserved. < Previous 1 \| 2 today.reuters.com