French demand for Russian natural gas growing further
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Jean-Pierre Clamadieu, Chairman of the Board of Directors of ENGIE, took place today at the St. Petersburg International Economic Forum 2019.
The parties discussed cooperation-related issues, paying special attention to gas supplies. It was pointed out that the French demand for Russian natural gas has been on the rise for the last four years. The upward trend continues in the current year as well. From January 1 through June 5, 2019, Gazprom's gas supplies to France totaled 5.8 billion cubic meters, an increase of 5.6 per cent from the same period of 2018.
The meeting also focused on the ongoing implementation of the Nord Stream 2 project.
The St. Petersburg International Economic Forum 2019 is being held at the EXPOFORUM Convention and Exhibition Centre from June 6 to 8. This year's key topic is Creating a Sustainable Development Agenda.
France's ENGIE SA (prior to 2015 – GDF SUEZ) is focused on natural gas marketing, as well as power generation. ENGIE owns the largest gas transmission network in Europe and is the biggest UGS facility operator in Europe in terms of capacities.
Gazprom and ENGIE cooperate, inter alia, in gas supplies and transmission. The companies also pursue joint cultural projects.
In 2018, Gazprom supplied to France 12.9 billion cubic meters of gas, an increase of 5.4 per cent against 2017 (12.3 billion cubic meters).
Nord Stream 2 is the construction project for a gas pipeline with the annual capacity of 55 billion cubic meters from Russia to Germany across the Baltic Sea. In 2017, Nord Stream 2 AG signed agreements with ENGIE, OMV, Royal Dutch Shell, Uniper, and Wintershall to provide financing for 50 per cent of the total cost of the project.