Energy Blast, March 24, 2008
OMV, Austria’s leading oil and gas company, is “battling” Gazprom for control of Europe’s energy supply. “You have to deal with Gazprom and it is not a small company. What we can do is grow, expand and add value. What is the alternative? Being taken out step by step, piece by piece.” New problems have emerged in gas relations between Russia and Belarus. Gazprom is demanding that Belarus cancel nontax deductions to its Energy Ministry, while Belarus opposes the new 7% rise in prices. Power producer TGK-13 reported a 2007 net loss of $45.4 million as rising costs wiped out a 24% year-on-year increase in revenue.