The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and His Royal Highness Crown Prince Philippe of Belgium.

The parties discussed bilateral cooperation development in the energy sector concerning, in particular, Russian natural gas transit to third countries.

The meeting participants gave consideration to the opportunities for bilateral cooperation deepening between Gazprom and Fluxys including potential utilization of the UGS facility in Loenhout.

Background

Belgium doesn't produce natural gas as it has no proven gas reserves.

Natural gas consumption in Belgium (around 17 billion cubic meters per year) is secured through imports. In 2010 Gazprom Group supplied 3 billion cubic meters of gas to Belgium.

Belgian gas transmission company Fluxys owns a network of transnational gas pipelines in Northwest Europe with the annual throughput capacity of 48 billion cubic meters. It also deals with natural gas and LNG transit and storage. The Belgian Government holds a “golden share” in the company.

When upgraded, the UGS facility in Loenhout will gain 700 billion cubic meters of working gas capacity in 2011.