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Gazprom Eyes Germany

ST. PETERSBURG — Gazprom may consider becoming a shareholder in new German power plants, chief executive Alexei Miller said Friday at the St. Petersburg International Economic Forum.

Gazprom and E.On may revive a plan to build a gas-fired power plant in the German city of Lubmin following Germany's withdrawal from nuclear power, he said.

Miller added that gas prices for Europe could rise above $500 per 1,000 cubic meters in the first quarter of 2012, and that Gazprom investments this year may be in excess of 1 trillion rubles.

(Bloomberg)

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