Gazprom Readies Power JV in Libya

ARKHANGELSK — Gazprom is planning a joint venture in Libya to build electricity capacity, the firm said Friday.

"We will jointly work in the electricity sphere. We will build new power-generating capacity," Gazprom spokesman Sergei Kupriyanov told journalists.

He declined to name a time frame or volumes.

Gazprom and Italian energy major Eni formed a strategic partnership in 2006 that allowed for energy asset swaps, including those Eni has in Libya. The two have previously said the deal also involved pipelines.

"We will discuss it [the pipeline]. In principle it interests us," Kupriyanov said.

He also said Gazprom could buy additional volumes of oil and gas from Libya as early as this year. "They could be swap buys or spot," he said.

Earlier in the week, Gazprom CEO Alexei Miller traveled to Tripoli, where he expressed interest in buying additional volumes of Libyan oil and gas and joining forces on several projects.