Gazprom and E.ON discuss acute energy cooperation issues
The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Dr. Johannes Teyssen, Chairman of the Management Board of E.ON.
The parties addressed the prospects for interaction development between Gazprom and E.ON in the field of the Russian gas supplies as well as the opportunities for joint projects implementation by the companies in the power generation sector.
E.ON is Europe's largest investor-owned electric power and gas company. Since February 2003 E.ON Ruhrgas (before July 1, 2004 – Ruhrgas) has been a subsidiary of E.ON 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 signed the Agreement on joint participation in the Yuzhno-Russkoye oil and gas field development project, in June 2009 – the agreement on asset swap in natural gas production and marketing.
Pursuant to the agreement, Gazprom received a 49 per cent stake in Gerosgaz, a 2.93 per cent stake holder in the Company. As a result of the deal, Gazprom received the full property rights to this stake from E.ON Ruhrgas. In its turn, E.ON received 25 per cent of Severneftegazprom shares (thus bringing its stake to 25 per cent less three ordinary registered shares and three preferred non-voting shares).
E.ON Ruhrgas also partners Gazprom in the Nord Stream gas pipeline construction.