"Thursday, July 10, 2008
Gazprom In Talks To Buy All Of Lybia's Oil And Gas Exports
Russia's state-controlled energy giant Gazprom [s:ogzpy] is in negotiations to buy Lybia's total export volume of gas, oil and liquefied natural gas at competitive prices, according to a statement published Wednesday on Gazprom's Web site. The news follows a meeting between Gazprom's CEO Alexei Miller and Lybia's leader Muammar Gaddafi. Gazprom also said it accepted Lybia's proposal to negotiate the potential construction of new capacities to transmit gas from Libya to Europe. Lybia has the largest proven oil reserves in Africa and it also has vast natural gas reserves."
This is all about the race for development of Lybia's oil, and keeping Gazprom away from it, period, end of discussion!