Gazprom and VNG discuss Germany’s growing gas demand
RELEASE
Release
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Ulf Heitmueller, Chairman of the Executive Board of VNG, took place today at the St. Petersburg International Economic Forum 2021.
The parties discussed current areas and long-term prospects of cooperation between the companies in the context of the growing demand in the European gas market. It was noted that Gazprom’s supplies to Germany, the largest importer of Russian gas, increased in January–May 2021 by 40 per cent compared to the same period of last year. Moreover, supplies in May set an all-time record for this month.
Also highlighted was the important role of natural gas in the transition to a low-carbon economy. In particular, the discussion touched upon the benefits of using natural gas for hydrogen production.
Background
The St. Petersburg International Economic Forum 2021 is being held at the EXPOFORUM Convention and Exhibition Centre from June 2 to 5. This year’s main theme is “A Collective Reckoning of the New Global Economic Reality.”
VNG is engaged in natural gas imports, underground storage and consumer supplies in Germany’s eastern federal states and in Berlin. In 2013, Gazprom and VNG entered into the Sci-Tech Cooperation Agreement effective until the end of 2029.
Gazprom and VNG are working together on the Katharina UGS facility, a joint project implemented on a parity basis. When the facility reaches its design capacity in 2025, it will include 12 caverns with the working gas volume of some 650 million cubic meters and the daily withdrawal rate of 26 million cubic meters.