Gazprom Invests in Natural Gas Vehicles in Russia

Gazprom will invest RUB 13.8 billion (€310 million) in the next 16 months to construct and upgrade over 300 natural gas vehicles (NGV) facilities in Russia, with a special interest on compressed natural gas (CNG) filling station and vehicle conversion shops. 

“Gazprom is taking large-scale efforts to expand the NGV fuel market in Russia,” said Viktor Zubkov, Chairman of the Gazprom Board of Directors. 

Zubkov and other Gazprom’s top managers met representatives of the Russian Ministry of Energy and Ministry of Agriculture, regional power officials from a number of Russia constituents and KAMAZ employees.  

“Its success largely depends on the work being done by regional authorities, in the first place to convert public motor transport to natural gas as well as to adopt regional laws promoting NGV equipment purchase,” added Zubkov in a note released on Wednesday.

According to Gazprom, the global market of natural gas vehicles is rapidly developing. The number of methane powered vehicles exceeds 13 billion. 

The International Gas Union forecasts that the NGV fleet will grow to 50 million units by 2020 and more than 100 million units by 2030.