GM&T-Retail Moves into New Building in Manchester; Set to Enter Ireland
Gazprom Marketing and Trading has announced that its retail operation has moved into a brand new building in the centre of Manchester. GM&T-Retail was established in October 2006 and is dedicated to serving small and medium business customers in the UK’s industrial and commercial market. I n 12 months the company has increased the number of the outlets it supplies from 1000 to 8000. The new office in Manchester’s Quay Street will allow for more business growth.
Andrey Mikhalev, GM&T Managing Director, said: “The move into the new office exemplifies our commitment to growth in all segments of the retail gas market.”
Gazprom also said it plans to take around 10 to 15% of Ireland's gas market in its first five years of operations in the country. 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.
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 license to operate in the country late last year.