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21 February 2011
Russia, EU could sign gas road map to 2050 - Gazprom chief

MOSCOW. Feb 21 (Interfax) - Russia and the European Union could sign a road map on gas for the period to 2050, Gazprom (RTS: GAZP) chief Alexei Miller told reporters.

Miller said the issue might be raised at the Russia-EU summit this week.

The summit will discus the Third Energy Package, where several issues need clarification, Miller said.

Gazprom is worried about the possible decline in the investment appeal of gas transportation projects, since it is not clear who would invest in such projects and on what terms.

In that connection, the summit meeting will discuss the Nord Stream and South Stream pipeline projects.

"We expect a mutually acceptable algorithm to emerge from the talks between Russia and the EU in implementing the Third Energy Package, non-discriminatory treatment of transportation projects to deliver gas to the EU and discussion of the opportunities and outlook for signing a road map for development of the gas sector to 2050," Miller said.

The year 2050 "is not such a long horizon," he said. "Gazprom currently has contracts in-force until 2035. We can forecast deliveries to the year 2050 with a high degree of confidence," he said.

The Third Energy Package contains a number of measures aimed at liberalizing the European electricity and gas market. It includes a host of provisions that would restrict Gazprom's operations, including prohibitions on long-term gas delivery contracts and ownership of gas transportation infrastructure by gas suppliers.