Meeting between Alexey Miller, Gérard Mestrallet and Jean-François Cirelli in Paris
RELEASE
Release
Paris, 27 November 2009 – On the occasion of the visit to France of Vladimir Putin, the Prime Minister of the Russian Federation, a meeting took place yesterday between Alexey Miller, Chairman of the Management Committee of Gazprom, Gérard Mestrallet, Chairman and Chief Executive Officer, and Jean-François Cirelli, Vice-Chairman and President of GDF SUEZ. Negotiations for the entry of GDF SUEZ into the Nord Stream project, as well as complementary industrial cooperation between the two groups were at the heart of the discussions.
During this meeting, GDF SUEZ and Gazprom evoked the different aspects of their cooperation in the energy field, particularly the progress of negotiations with Nord Stream AG shareholders concerning the entry of GDF SUEZ into this gas pipeline project. The members of the Nord Stream consortium are pursuing a constructive dialogue to outline the conditions which will enable GDF SUEZ to obtain a minority share of 9 per cent in Nord Stream's capital.
Gazprom and GDF SUEZ agreed that the increase in the imports of Russian natural gas, including via Nord Stream, should contribute to the continuous strengthening of cooperation between Gazprom and GDF SUEZ.
In addition, Alexey Miller informed GDF SUEZ of the agreement to acquire its 5.26 per cent stake in German company VNG.
Background
Cooperation between Gazprom and GDF SUEZ started in September 1975 with gas supplies. In total, Gazprom has supplied GDF SUEZ with more than 300 billion cubic meters of natural gas, 10.9 billion cubic meters of which in 2008.
In December 2006, Gazprom and GDF SUEZ signed an agreement on the renewal of their natural gas supply contracts until 2030. Additional quantities of 2.5 billion cubic meters of natural gas per year will also be supplied to GDF SUEZ through the Nord Stream gas pipeline.
Finally, since October 2007, Gazprom can supply up to 1.5 billion cubic meters per year of Russian gas directly to end-customers in France.
Cooperation between the two companies has increased over the years with partnerships in a variety of fields. On 29 September 2006, Gazprom and GDF SUEZ signed a new cooperation agreement in the field of staff training.
One of the leading energy providers in the world, GDF SUEZ is active across the entire energy value chain, in electricity and natural gas, upstream to downstream. GDF SUEZ relies on diversified supply sources as well as flexible and high-performance power generation in order to provide innovative energy solutions to individuals, cities and businesses.
The Nord Stream gas pipeline project is a new route for exporting Russian gas to Europe. The gas pipeline should pass through the Baltic Sea and connect the Portovaya Bay (Vyborg) to the German coast (Greifswald). Measuring about 1,200 km long, this gas pipeline will be realised by the company “Nord Stream AG” in charge of planning, building and operating the project’s maritime section. Shares in “Nord Stream AG” are distributed as follows: Gazprom (51 per cent), Wintershall Holding (20 per cent), E.ON Ruhrgas (20 per cent), Gasunie (9 per cent).
Established in 1969, Verbundnetz Gas AG (VNG AG, Leipzig) is a supplier of gas to Germany ’s eastern federal lands and Berlin. VNG core business activities involve natural gas import, supply to consumers as well as underground storage. At present, the company ’s shareholders are as follows: EWE (47.9 per cent), Wintershall Holding AG (15.79 per cent plus one share), VNG Verwaltungs und Beteiligungsgesellschaft mbH (25.79 per cent minus one share), EEG, a wholly owned subsidiary of GDF SUEZ (5.26 per cent), and Gazprom (5.26 per cent).