Alexey Miller and Johannes Teyssen: Europe’s demand for Russian gas to grow
The Gazprom headquarters hosted a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Dr. Johannes Teyssen, Chairman and Chief Executive Officer of E.ON AG.
The parties addressed the current state of bilateral cooperation in the energy sector.
In addition, Alexey Miller and Johannes Teyssen tackled the issues of Russian gas supplies to Germany as well as the development prospects for the European gas market. A unanimous opinion was expressed that Europe's demand for Russian gas supplies would steadily increase in the future.
E.ON AG is Europe's largest private power and gas concern. Since February 2003 E.ON Ruhrgas AG (before July 1, 2004 Ruhrgas AG) has been a subsidiary of E.ON AG and is responsible for the group's gas business in Europe including natural gas production, marketing, transportation and storage.
On October 2, 2008 Gazprom and E.ON AG entered into the Agreement on joint participation in the Yuzhno-Russkoye oil and gas field development project, in June 2009 – the Agreement on asset swap in the area of gas production and trade.
Pursuant to the Agreement, Gazprom received a 49 per cent stake in Gerosgaz holding 2.93 per cent of the Company's shares. As a result of the deal the ownership right for this stake was completely transferred from E.ON Ruhrgas to Gazprom. In its turn, E.ON acquired a 25 per cent stake in the charter capital of Severneftegazprom (thus, the stake of E.ON AG amounted to 25 per cent less three ordinary registered shares and three preferred non-voting shares).
E.ON Ruhrgas AG also partners Gazprom in the Nord Stream gas pipeline construction.