Gazprom, which is one of the biggest gas producers in Russia, is excited about increasing its investments in innovative projects, some of which will be conducted in the United States. As of now, the company provides funds of USD250 million, but by 2020, it plans increasing the amount of financing to an incredible USD1 billon. The CEO of Gazprom, Alexei Miller has already issued a statement confirming these plans.

In a recent interview, the CEO stated that Gazprom had recently made a lot of investments in the field of innovative development, particularly in the last five years or so. Every year, the company was increasing its investments, and the amount of funding had already increased fivefold since the innovative program’s inception. Gazprom’s CEO also said that as part of the company’s plans, investments will increase every year until the funding reaches USD1 billon.

Alexei Miller went on to say that it was not just the big companies that interested Gazprom. Small and medium-size companies were capable of doing just as good of a job, and so Gazprom was ready to cooperate with them. The only criterion is that innovation should be a part of their projects.

Gazprom comprises 13 different research organizations that house around a thousand employees. The company has also partnered up with five academic institutes, 15 universities, and 28 research-based organizations.

When asked a question as to the company’s future plans, Gazprom’s CEO had more news to share about Gazprom’s investments. He said that the company will establish a fund that will provide initial financing to companies that are planning to develop innovations in the gas sector. The fund will be created in collaboration with the Rusnano technological company.

Miller also said that the company had plans to offer its technologies to the United States, and that some projects may be started in Alaska. He concluded his interview by stating that Gazprom has been engaged in gas production over the last forty years. The company was now ready to share some of its skills and experiences with the U.S.