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. Last Updated: 07/27/2016

Yuksi Boosts Gas

MOSCOW -- The oil company Yuksi will compete with Russia's giant gas producer Gazprom, Yuksi's First Vice President Yevgeny Shvidler said in an interview with the Nezavisimaya Gazeta newspaper, published Tuesday.

He also said the government "strongly supports" such an approach because it is interested in having many strong companies, not weak ones.

"Gazprom is Russia's major gas producer, but any oil company is also a large producer of gas," he said. "In fact, all of the Russian oil companies produce both oil and gas, and hand gas over to Gazprom. Yuksi produces very little gas, but can increase gas output," he said.