Russian president vows to double gas exports to Germany

Russian President Vladimir Putin pledged on Tuesday to double gas exports to Germany in a move to lift energy concerns in the European Union.

Russia would send 50 billion to 55 billion cubic meters of natural gas a year to Germany in addition to 40 billion cubic meters at present, Putin said after talks with German Chancellor Angela Merkel in the eastern German city of Dresden.

Meanwhile, Putin said Russia plans to make Germany a European hub for gas exports from huge reserves under the Barents Sea. Germany "will become a major distributor of gas for Europe," Putin said.

Russian natural gas giant OAO Gazprom said Monday that piping supplies from the vast Shtokman gas field to Europe would take precedence over sending liquefied gas to the United States.

Putin said Russia favored strengthening its economic ties with Germany which was already Russia's largest customer for energy supplies in Europe.

Concerns over energy security were raised at the beginning of the year when Russia temporarily cut supplies to some European countries during a row with Ukraine over prices.

Russia's gas fields, which supply the EU with about 30 percent of its natural gas, have always been on the top of the agenda during the talks between Merkel and Putin. Merkel has met Putin five times this year.

Source: Xinhua