Gazprom flexes its muscles in Europe - Sylvia Pfeifer
The Russian state-owned gas giant that provides a quarter of Europe's gas needs, is to make its first foray into electricity generation in continental Europe in a move that underlines the scale of its ambitions in the West.
The company plans to build a combined cycle gas turbine station in Germany to supply industrial customers and trade power in what will be one of its first major projects outside Russia. It has teamed up with Soteg, Luxembourg's main power supplier, to build the €400m plant in the eastern German town of Eisenhüttenstadt. The plant will generate 800MW from 2010 but the two companies still need to get approval to build it.
