Nord Stream demonstrating high efficiency of direct gas supplies to Europe

RELEASE

A meeting between Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Han Fennema, CEO and Chairman of the Executive Board of Gasunie took place today within the St. Petersburg International Economic Forum 2014.

The parties addressed the current state of cooperation as well as the prospects for future joint activities in such areas as LNG, NGV fuel, energy efficiency and innovative technologies.

Han Fennema (center) at meeting with Alexander Medvedev as part of St. Petersburg International Economic Forum 2014
Han Fennema (center) at meeting with Alexander Medvedev as part of St. Petersburg International Economic Forum 2014

Han Fennema (center)

In addition, the meeting participants discussed the issues of improving the European gas infrastructure in terms of boosting Russian gas supplies to Europe. In particular, they mentioned the successful progress and the possible expansion of the Nord Stream project.

It was pointed out that this gas transmission route demonstrated high reliability and efficiency of direct Russian natural gas supplies to European partners. The meeting stressed that the gas pipeline had a potential to considerably boost gas supply volumes to Europe

Background

Gasunie is a gas infrastructure company, whose network ranks among the largest high pressure gas pipeline grids in Europe with the total annual gas throughput of approximately 125 billion cubic meters. Gasunie's network consists of over 15,000 kilometers of pipeline in the Netherlands and northern Germany and approximately 1,300 gas receiving stations. The company is focused on natural gas transportation and storage in addition to the LNG sector.

In 2013 Gazprom and Gasunie signed the Memorandum of Understanding on Strategic Cooperation, providing for enhancing the cooperation between the companies in such areas as gas infrastructure development, Nord Stream expansion, LNG, energy efficiency, innovative technologies, environmental protection, educational projects, information and cultural exchange.

Nord Stream is an export gas pipeline running under the Baltic Sea to Germany. The two-string gas pipeline stretches 1,224 kilometers and has the capacity of 55 billion cubic meters. The Nord Stream project is implemented by Nord Stream joint venture (with Gazprom holding a 51 per cent stake, Wintershall Holding and E.ON Global Commodities – 15.5 per cent each, Gasunie and GDF Suez – 9 per cent each).

In 2013 Gazprom supplied 2.13 billion cubic meters of natural gas to the Netherlands.

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