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40th Anniversary of First Contract for Gas Supply to France

Source: www.gulfoilandgas.com 11/12/2015, Location: Asia

Tsarskoye Selo (Pushkinsky District of St. Petersburg) hosted a ceremony dedicated to the 40th anniversary of signing the first contract for Russian gas supply to France.

Taking part in the event were Alexey Miller, Chairman of the Gazprom Management Committee and Gerard Mestrallet, Chief Executive Officer of ENGIE.

“Today we celebrate the 40th anniversary of our cooperation, 40 years of stable supplies of Russian gas to France. This is a clear testament of constructive, mutually beneficial relations between two world class companies. We proceed in our cooperation with ENGIE based on long-term contracts which constitute an important element of energy security in France.

Today we also celebrate another jubilee – five years ago ENGIE became a partner in Nord Stream. Today the success of the project is known to everyone, so in September we and our European partners, including of course ENGIE, made a decision to construct Nord Stream 2. The project will bring to the European market additional 55 billion cubic meters of Russian gas,” said Alexey Miller.

“We are happy to celebrate with Gazprom the anniversary of the long-term solid partnership uniting our companies. It has considerably contributed to developing the European gas industry. ENGIE's participation in the Nord Stream 2 project bespeaks our faith in continuing this cooperation.

Natural gas is of key importance for upgrading the energy sector, particularly, for reaching the European Union targets to reduce greenhouse gas emissions by 2030,” said Gerard Mestrallet.

During the ceremony Alexey Miller and Gerard Mestrallet signed an Addendum to the Sales and Purchase Agreement for shares of the Nord Stream 2 joint project company (JPC), which executes the Nord Stream 2 project.

The document provides for increasing ENGIE's stake to 10 per cent. Thus, once the deals for the purchase of JPC shares by foreign shareholders are closed, the shareholding structure will be as follows: Gazprom – 50 per cent, BASF, E.ON, ENGIE, OMV, Shell – 10 per cent each.

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