Today Alexey Miller, Chairman of the Gazprom Management Committee and Paul van Gelder, President of Gasunie signed a Memorandum of Understanding on Strategic Cooperation as part of the 16th Annual General Meeting (AGM) of the European Business Congress (EBC).

The document sets forth the key areas of interaction aimed at streamlining the bilateral cooperation between the companies in European gas markets. In particular, the Memorandum stipulates that the companies enhance closer ties in such areas as the gas transmission infrastructure development particularly as part of the Nord Stream gas pipeline expansion, gas processing, LNG production including its small-scale shipping.

Moreover, the parties will continue the cooperation in underground gas storage, energy efficiency, innovative technologies, environmental protection, educational programs, information and cultural exchange.

“Gazprom and Gasunie have been partners for many years and have a proven experience in effective delivery of projects in the European market. The Memorandum signed today opens up new horizons for the development of strategic partnership between our companies,” said Alexey Miller.

“Gas infrastructure is an indispensable element of the secure gas supply. Our joined efforts to cooperate on the development and use of gas networks will enhance efficient and stable delivery of gas to European consumers. This Memorandum with Gazprom strengthens the multifaceted interaction between our companies, in the interest of a sustainable energy development in Europe,” said Paul van Gelder.

Background

Gasunie is a gas infrastructure company, whose network ranks among the largest high pressure gas pipeline grids in Europe with the total annual gas throughput of approximately 125 billion cubic meters. Gasunie's network consists of over 15,000 kilometers of pipelines in the Netherlands and northern Germany and approximately 1,300 gas receiving stations. The company also offers gas and LNG storage services.

In 2012 Gazprom Group supplied the Netherlands with 2.3 billion cubic meters of natural gas.

Nord Stream is a fundamentally new route for Russian gas export to Europe. Running under the Baltic Sea from the Portovaya Bay (near Vyborg) to the German coast (near Greifswald) the two-string gas pipeline stretches 1,224 kilometers and has the total design capacity of 55 billion cubic meters.

The Nord Stream project is implemented by Nord Stream AG joint venture. The stakes in Nord Stream AG are currently distributed as follows: Gazprom holds 51 per cent, Wintershall Holding and E.ON Ruhrgas – 15.5 per cent each, Gasunie and GDF Suez – 9 per cent each.

In October 2012 the Nord Stream AG shareholders committee examined the preliminary results of the feasibility studies for building the third and the fourth strings of Nord Stream and came to the conclusion that their construction was economically and technically feasible.