Alexey Miller, Chairman of the Gazprom Management Committee and Igor Starinkov, President of REP Holding signed today a Memorandum of Intent as part of the St. Petersburg International Economic Forum 2013.

Under the document REP Holding will develop and produce a new stationary gas compressor unit (GCU) with a capacity of 16 MW, an efficiency of 38 per cent and a life cycle of no less than 200 thousand hours. At present, GCUs with such characteristics are not produced in Russia. For instance, an Ural series GCU with the same capacity has an efficiency of 36 per cent and a life cycle of about 100 thousand hours.

During a three-month period REP Holding will prepare a schedule for the new GCU development and production. Gazprom will consider the possibility of using such units at its production facilities and testing a prototype model.

Background

On December 19, 2012 Gazprom and REP Holding signed a Long-Term Cooperation Program until 2020. In particular, the Program sets out activities aimed at creating conditions necessary for the development and mass production of competitive gas turbine and electrically driven gas compressor units and power plants in Russia.

REP Holding is focused on the engineering, production and comprehensive supply of power generating equipment for the gas, oil, metallurgical, chemical, power and shipbuilding industries. The Holding embraces production, R&D and service companies, including such prominent industrials as St. Petersburg's Nevsky Plant and Electropult Plant, and has joint ventures with western companies.