Gazprom, E.ON, Shell and OMV agree upon developing gas transmission
capacities to deliver Russian gas to Europe
June 18, 2015 + + + Alexey Miller,
Chairman of the Gazprom Management Committee, Klaus Schaefer, Member of
the Management Board of E.ON, Ben van Beurden, Chief Executive Officer of
Royal Dutch Shell and Manfred Leitner, Member of the Executive Board of
OMV signed Memorandums of Intent stipulating the cooperation among the
said companies within the project for constructing the gas transmission
infrastructure for direct supply of Russian gas to European consumers. The
documents were inked today within the St. Petersburg International
Economic Forum 2015.
Manfred Leitner, Klaus Schaefer, Alexey Miller
and Ben van Beurden sign Memorandums of Intent stipulating cooperation
among Gazprom, E.ON, Royal Dutch Shell and OMV within project for
constructing gas transmission infrastructure for direct supply of Russian
gas to European consumers
The Memorandum reflects the parties’
intent to implement a project for the construction of two gas pipeline
strings from the Russian coast to the German coast via the Baltic Sea. The
capacity of the new gas pipeline will reach 55 billion cubic meters a
year.
Considering the drop in domestic gas production in Europe as
well as the global growth in gas demand, the parties pointed out the need
to create new infrastructure to secure reliable supplies of the
eco-friendly fuel to European consumers.
In the near future the
parties will launch the incorporation of a joint project company. They are
planning to draw on the positive experience and best practices of Nord
Stream AG obtained by the company since 2012, including the completed
pre-investment study.
“Upon commissioning of the Nord Stream gas
pipeline, Gazprom has been looking into the possibility of boosting the
capacity of this route. Today, jointly with our partners, we are starting
this project. Extra gas transmission facilities along the shortest route
connecting gas fields in Russia’s north to European markets will provide
for higher security and reliability of supplies under new contracts,”
stated Alexey Miller.
“With this project we plan to continue and
expand our successful partnership with Gazprom. The experience gained in
Nord Stream has demonstrated that transportation of gas through the Baltic
Sea is a reliable solution for the EU energy needs from the economic,
technical and environmental points of view,” said Klaus Schaefer.
“Natural gas will remain an integral part of the European energy mix,
that’s why such new projects are important to satisfy the demand for
energy carriers, especially with an account of the declining domestic gas
production in Europe,” pointed out Ben van Beurden.
“It is an
important step towards higher security of gas supplies to Central Europe,
and it will enhance the role of Baumgarten in Austria as a gas hub. Our
almost 50-year cooperation with Gazprom should contribute to the success
of this initiative that will provide for the further diversification of
energy routes to Europe,” said Manfred Leitner
Source
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