Alexey Miller and Johannes Teyssen: We need to boost gas utilization in European economy
A meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Dr. Johannes Teyssen, Chairman and Chief Executive Officer of E.ON. took place today as part of the St. Petersburg International Economic Forum 2013.
The parties addressed a wide spectrum of issues concerning the cooperation in the energy sector and pointed out the need to preserve the practice of long-term contracts and to boost natural gas utilization in various European industries including power generation.
E.ON is Europe's largest private power and gas concern.
In October 2008 Gazprom and E.ON entered into the Agreement on joint participation in the Yuzhno-Russkoye oil and gas field development project.
In June 2009 the parties signed the Asset Swap Agreement. 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 amounted to 25 per cent less three ordinary registered shares and three preferred non-voting shares).
E.ON also partners Gazprom in the Nord Stream gas pipeline construction and holds a 15.5 per cent stake in the Nord Stream AG joint venture.