Gazprom enters UK gas market.

(From FT Investor (Pulses))

Gazprom, the Russian state-controlled gas monopoly, on Thursday made a move into the UKs industrial and commercial gas market by buying the supply businesses of the privately-owned Pennine Natural Gas. The Russian company, which supplies a quarter of all European Union gas, said it had always intended to enter the UK gas supply market, and that the deal offered it an excellent base from which to grow its supply business. At the present time we plan to concentrate on industrial and commercial gas customers, but will continue to keep entering the domestic market and electricity market under review, the company said. No financial details of …