Russia's Gazprom said it plans to take around 10 to15 per cent of Ireland's gas market in its first five years of operations in the country, according to reports.
Jon Feingold, managing director of UK-based subsidiary Gazprom Marketing and Trading Retail, is quoted as saying that the company would target high-end commercial clients and power stations.
He also said Gazprom could build its market share by importing gas into Ireland via the United Kingdom, where it already has a growing presence, or through acquisitions.
"We haven't ruled anything out and will look at acquisitions . . . if it was an acquisition it might be significant," the Irish Independentquoted Mr Feingold as saying.
Although Ireland is a small market, Mr Feingold said there are opportunities, adding that Gazprom can compete with the established market players in Ireland.
Gazprom Marketing and Trading Retail secured a licence to operate in the country late last year, the newspaper said.
Agencies