Gazprom, the Russian-owned world leader in international gas supply, has warned the EU that moves to unbundle its utilities could damage future supplies to member nations.
Speaking at the World Energy Congress in Rome this week, Gazprom deputy chair Alexander Medvedev said Gazprom was already establishing new relationships with Korea, Japan and China for LNG projects that would increase the number of nations feeding off its supply.
"The world doesn't stand still, and apart from Europe there are many other markets opening up for Gazprom," Medvedev says.
He warned that European demand was starting to grow with the depletion of resources and that imports to Europe are expected to rise by 70 percent by 2080.
"Gazprom should be well placed to meet this demand for Europe," Medvedev says.
"This is why we are concerned by the latest proposal by the EU over which gas pipelines in the EU can be owned or controlled by gas suppliers.
"Such requirements will have adverse affects over European gas supplies.
"We are part of this market and we have a substantial amount of clients who are feeding off of this.
"We will continue to analyse the commission's proposals and leave aside the questions of whether the forced disposal of assets will comply with private property principals of the market economy."
Medvedev says Gazprom is investing in infrastructure by installing direct pipelines.
Several Gazprom routes are under consideration for Europe and the Middle East - the most ambitious of these being the North Stream Pipeline, with a potential annual capacity of 55 bcm.
"For the first time in history, Russian gas will reach Western Europe directly and avoid political and economic risk which overly [means] European Union energy security," Medvedev says.
By Penny Jones
