Gazprom, in talks with Germany's RWE on a joint venture in European power generation, is also looking at Asian markets and independent moves in Europe through its power unit.
RWE secured exclusive talks with Gazprom in July for three months. On Thursday, they announced that the talks were extended to the year's end.
Denis Fyodorov, chief executive of power unit GazpromEnergoHolding, said last week that the gas giant was interested in power assets in Bulgaria, Britain, Germany and the Benelux countries.
"We plan to present three or four projects [in Europe] to the board [of Gazprom] by the end of the year. We have a shortlist [of European assets] that contains about 10 projects," Fyodorov said.
Joint ventures are a subject of discussion only with RWE, he added.
It is also interested in tapping the electricity business in Japan, South Korea and China, primarily through construction of gas-fired power stations.
"In Asia, we are primarily interested in gas power generation. If we supply gas to China, it will be interesting for us to construct a whole chain to the consumer," Fyodorov said.
On the domestic market, Gazprom is close to finalizing the terms of a merger of its power assets with those of the Renova holding company.
The deal could create a national champion, with up to $8 billion in assets, controlling a quarter of all domestic power generation.
Fyodorov said Gazprom's board was expected to meet in December to approve the deal, which could lead to an initial public offering of the enlarged electricity group, but not before 2014-15.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
