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Gazprom & Siemens Discuss Prospects of Creating Joint Venture in Russia

Source: www.gulfoilandgas.com 6/7/2019, Location: Asia

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Joe Kaeser, Chief Executive Officer of Siemens, took place today at the St. Petersburg International Economic Forum 2019.

The meeting participants discussed the current issues and prospects of their cooperation, including the joint efforts aimed at organizing the manufacture of innovative electrical equipment of Siemens in Russia so as to serve the needs of Gazprom's generating facilities.

In this connection, the parties reviewed the implementation of the Agreement of Strategic Cooperation signed by Gazprom Energoholding and Siemens in May 2018 and the Memorandum of Intent signed in March 2019. It was noted that the working group that was formed under said documents is now preparing the design documentation to create a joint venture in Russia with the aim of producing vacuum generator switches and their components.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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