Russia Redraws Europe's Energy Map

Things couldn't have been better for Russia's energy giant Gazprom even before news came in over the weekend that curtains could be coming down on one of the keenest battles of the Caspian great game, and Moscow is on a winning streak.

Gazprom increased its gas supplies to Europe in April by over 21% on the same month last year. In 2011, Gazprom's overall export revenue is estimated to be a whopping US$72.4 billion. In anticipation of increased supplies to Europe, the Russian company has begun plans to nearly double its underground storage capacities for gas by 2015 to almost 4.9 billion cubic meters (bcm) and by next year to 6.5 bcm.