Saint Petersburghosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Peter Terium, CEO of the RWE Executive Board.

The parties discussed various aspects of cooperation in the energy sector. In particular, the meeting addressed the prospects for further partnership in natural gas supplies.

Background

RWE is a leading German company in the power and natural gas production and marketing sectors.

RWE accounts for 6.6 percent of electric power generated in the EU. In 2011 the company sold 294.6 billion kWh of electricity.

At present, natural gas reserves of RWE amount to 179.4 billion cubic meters. In 2011 the company sold 30.794 billion cubic meters of gas.

RWE Transgas, a subsidiary of German RWE, is the key partner of Gazprom Export in the Czech Republic. The effective contracts for natural gas supply from Russia to the Czech Republic and for gas transit across the country were made with RWE Transgas in 1998 and 1999 respectively, and extended through to 2035 in 2006, with a view to annually supply some 9 billion cubic meters of gas and to transit up to 30.5 billion cubic meters of gas per year.