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Gazprom & GDF SUEZ Address Current Cooperation Status

Source: www.gulfoilandgas.com 5/16/2012, Location: Asia

The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Jean-Francois Cirelli, Vice Chairman and President of GDF SUEZ.

The parties discussed the current situation in the global gas market and the partnership between the two companies in the energy sector.

In addition, the meeting participants noted significant progress in the Nord Stream project and paid attention to Russian gas supplies to France via the Nord Stream gas pipeline as well as to prospects for the further project development.

GDF SUEZ is one of the largest energy companies in Europe; it was established in 2008 as a result of a merger between Gaz de France and SUEZ. GDF SUEZ is focused on power generation also implementing projects in natural gas exploration, production, processing and distribution.

Cooperation in the gas supply sector between Gazprom and Gaz de France started in September 1975. In December 2006 Gazprom and Gaz de France signed the Agreement to extend the existing contracts for Russian natural gas supply to France until 2030. Moreover, the parties agreed to deliver additional gas volumes to Gaz de France via the Nord Stream gas pipeline. At present, GDF SUEZ has contracted the pipeline capacity of 2.5 billion cubic meters per annum. In October 2007 Gazprom was provided with an opportunity for delivering up to 1.5 billion cubic meters of Russian gas per year directly to end consumers in France.

In July 2010 GDF SUEZ entered the shareholding structure of Nord Stream AG with a 9 per cent stake.

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