Germany: Gazprom takes all the risk of supplying Europe - CEO Miller

CEO of Gazprom Alexei Miller accused the European Union of deliberately and unilateraly burdening the Russian company with all the risks of supplying European customers with gas from Russia. Speaking at the Berlin conference on energy security Monday, Miller noted that the most important risks that Gazprom was now facing, in addition to transit risks because of the Ukraine crisis, were risks associated with building up production and transporting capacities. The Gazprom CEO said that the Russian gas giant had built massive production and transit capacities to supply its energy resources to Europe, potentially allowing it to double its export volumes. However, the company had heard no announcements from Europe that it's willing to rely on Russian gas supplies, Miller said. Alexei Miller stressed that the European position had made Gazprom re-think its strategy, potentially allowing it to redirect excess gas capacities to supply other markets, particularly Asia.