Nord Stream: a 'reliable and efficient route'

The Gazprom headquarters hosted a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Jean-Francois Cirelli, Special Advisor to the Presidency of GDF Suez (Gas Supplies).

The parties addressed the current issues and prospects for the co-operation deepening in the gas sector, paying special attention to gas supply to France and other European countries. 

The discussion was also focused on Nord Stream as a gas pipeline running from Russia to Europe and bypassing the transit countries and, therefore, being one of the most reliable and efficient channels of Russian gas supply to European consumers.

Alexey Miller and Jean-Francois Cirelli also considered the risks related to gas transit across Ukraine.

Background

GDF SUEZ is one of the largest energy companies in Europe. It was established in 2008 as a result of the merger between Gaz de France and SUEZ. GDF SUEZ is focused on power generation and carries out gas exploration, production, processing and sales projects.

The cooperation between Gazprom and GDF SUEZ in the gas supply sector started in 1975. In 2006 Gazprom and GDF SUEZ signed the Agreement to extend all of the three existing contracts for Russian natural gas supply to France until 2030. Moreover, the parties agreed on additional gas volumes for GDF SUEZ via the Nord Stream gas pipeline: at present, its contracted volume is 2.5 billion cubic meters per year.

Nord Stream is an export gas pipeline with the annual capacity of 55 billion m³ of gas across the Baltic Sea from Russia to Germany. A 1224 km gas pipeline consists of two strings. Nord Stream AG, a joint project company (Gazprom holding a 51% stake, Wintershall Holding and E.ON Global Commodities – 15.5% each, Gasunie and GDF Suez – 9% each) is the project operator.

In 2014 Gazprom exported 7.095 billion m³ of gas to France.

Adapted from press release by Hannah Priestley-Eaton

Read the article online at: https://www.worldpipelines.com/project-news/16042015/nord-stream-a-reliable-and-efficient-rout/