Reuters: Novatek eyes gas trading in Germany, elsewhere in Europe

Novatek, Russia's largest independent gas producer, is in talks to expand its gas trading operations in Germany and other European countries, its head and co-owner Leonid Mikhelson told journalists on Tuesday.

"We are in talks with potential (gas) customers to expand our trading operations in Europe, Germany," Mikhelson said.

Novatek, controlled by Mikhelson and Gennady Timchenko, is pursuing plans to widen its customer base. It signed a deal in July to trade natural gas with German utility EnBW.

For its trading operations in Europe, Novatek buys gas outside Russia, because it is barred from exporting fuel from the country. By law, only state gas monopoly Gazprom has a right to export Russian gas.  MORE