Gazprom will offer financing program for natural gas conversions in Russia

In this context, special attention was given to real support measures required for the NGV market development. This industry may be accelerated through the attraction of necessary financing. “Gazprom is now creating a powerful program jointly with Gazprombank and is ready to convert motor vehicles to natural gas in Russian regions,” explained Zubkov.

He also stressed that the program execution would not be possible without state support. According to him, natural gas-powered vehicles are subsidized in the United States, subsidies are also allocated for technical re-equipment in Canada, and there are varied support measures in other countries as well. Therefore, Gazprom is preparing a draft Russian Government Directive to promote the use of NGVs.

Moreover, new production projects generate favorable conditions for increasing Russian gas supplies, also in the form of LNG, to foreign markets. Meanwhile, according to Zubkov, it is necessary for Gazprom to retain its exclusive right to export gas. “I think it’s essential to preserve the rules already fixed by the law,” he added.

Source: Gazprom