OREANDA-NEWS. October 31, 2008. In Munich yesterday as part of gala events marking 35 years of Russian natural gas supply to Germany, OAO Gazprom Deputy Board Chairman Alexander Medvedev and E.ON Ruhrgas AG Board Chairman Bernhard Reutersberg signed a memorandum of understanding to create a joint venture that will concern itself with issues of energy conservation and effective energy use.

The company will work to implement advanced energy-saving technologies, including with the use of renewable energy sources, and consult major European clients in matters pertaining to efficient resource use.

According to the memorandum, the parties will form a joint working group to identify and analyze potential areas of cooperation.

The companies expect to begin creating the JV in 2009.

“Ensuring stable gas supply and working to increase energy efficiency are two sides of the same coin. By opening this new stage in our cooperation, Gazprom and E.ON Ruhrgas once again confirm that conserving natural resources and protecting the environment are not only always in our line of sight, but are also priorities. We hope that our experience in this sphere will be useful for many people,” said Alexander Medvedev.