OREANDA-NEWS. On April 13, 2007 Gazprom Marketing & Trading Ltd. and Soteg SA have signed a Memorandum of understanding to set up a joint venture for construction of Combined-Cycle Plant (CCP) in Germany, reported the press-centre of Gazprom. Pursuant to the document, CCP with total capacity of 800 Mw (two turbines of 400 Mw) is planed to be constructed in the town of Eisenhuttenstadt. It is planned to commit EUR 400 mln. CCP will be commissioned in 2010.

A part of electric power produced will be sold by the joint venture directly to industrial consumers under the long-term arrangements, with rest to be marketed by Gazprom Marketing & Trading Ltd. and Soteg SA. The Memorandum implementation will enable Gazprom Marketing & Trading Ltd. to diversify its business including marketing of natural gas, LNG, electric power and CO2 quotas.