"We will only meet the demand of partners who have signed long-term deals. We will not produce gas until we have sold it," chief executive Alexei Miller told an annual shareholders meeting.
Miller said that demand was outstripping supply on the natural gas market, which meant that the seller was free to choose partners and the most favorable outlets, as well as cooperate exclusively under long-term deals.
He said Gazprom covered 25% of Europe's natural-gas needs, whereas its share was only 10% on Asian-Pacific markets.
And against the backdrop of Russia seeking to increase supplies of crude to energy-hungry China and its neighbors, Miller said Gazprom's main objective was to expand on Asian markets.
"The Asian-Pacific countries will see the highest growth in gas demand in the coming decade," he said.
He mentioned that the company developed two projects - in the Far East of Russia and further west - on gas transportation to China. "The western option with an annual capacity of up to 30 billion cubic meters is our priority," Miller said.
He said that it was very important for Gazprom that the supplies be provided through a single export channel and pricing would be based on the crude oil basket.
Miller said Gazprom was also planning to develop the market for liquefied natural gas and the first stage of a long-term strategy was being implemented. He said Gazprom offered wholesale supplies of LNG produced abroad, including barter transactions with pipeline gas.
The second stage, which will start after 2010, would see supplies of domestically produced LNG launched.
"We are negotiating on developing cooperation in the production and transportation of liquefied natural gas with largest players on the market," the Gazprom chief said.
