Gazprom and E.ON address bilateral cooperation

The meeting addressed the current issues of the cooperation in the gas industry, such as gas supply as well as joint production and transmission. Special attention was paid to operation of the Nord Stream gas transmission system. It was pointed out that in excess of 30 billion cubic meters of gas had been supplied via the gas pipeline starting this year showing a 50 per cent surplus versus the respective period of 2013, when the gas export via Nord Stream had been around 20 billion cubic meters.

The meeting participants stressed the significant role of the gas pipeline in diversifying the routes of energy supply to European consumers as well as in enhancing their security through mitigating transit risks.

E.ON is Europe's largest investor-owned electric power and gas company. In the early 1970s Ruhrgas (present E.ON Global Commodities, part of E.ON) became one of the first large buyers of Soviet gas in Western Europe.

Currently, the cooperation between Gazprom and E.ON is not limited to gas trading. The companies jointly participate in the Yuzhno-Russkoye oil and gas field development as well as the Nord Stream gas pipeline operation. Moreover, Gazprom and E.ON actively cooperate in the sci-tech area.

Nord Stream is a gas pipeline with the annual capacity of 55 billion cubic meters of gas intended for Russian gas export to Europe via the Baltic Sea. Nord Stream, a joint project company (Gazprom holding a 51 per cent stake, Wintershall and E.ON – 15.5 per cent each, Gasunie and GDF SUEZ – 9 per cent respectively). The first string of Nord Stream was commissioned in 2011, the second one – in 2012.

Germany is the largest export market for Gazprom. In 2013 Gazprom supplied Germany with 41 billion cubic meters of gas.