Gazprom and GDF SUEZ Point out Strategic Significance of Nord Stream
OREANDA-NEWS. June 26, 2012. A meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Jean-Francois Cirelli, Vice Chairman and President of GDF SUEZ was held today as part of the St. Petersburg International Economic Forum – 2012.
The meeting participants discussed the global energy market situation and reviewed the progress with the joint projects.
Special emphasis was placed on successful interaction within the Nord Stream project. It was highlighted that the gas pipeline supported the energy security in Europe through the supply routes diversification.
GDF SUEZ is one of the largest energy companies in Europe; it was established in 2008 as a result of a merger between Gaz de France and SUEZ. GDF SUEZ is focused on power generation also implementing projects in natural gas exploration, production, processing and distribution.
Cooperation in the gas supply sector between Gazprom and Gaz de France started in September 1975. In December 2006 Gazprom and Gaz de France signed the Agreement to extend the existing contracts for Russian natural gas supply to France until 2030. Moreover, the parties agreed to deliver additional gas volumes to Gaz de France via the Nord Stream gas pipeline. At present, GDF SUEZ has contracted the pipeline capacity of 2.5 billion cubic meters per annum. Gazprom was also provided with an opportunity for delivering up to 1.5 billion cubic meters of Russian gas per year directly to end consumers in France since October 2007.
In July 2010 GDF SUEZ entered the shareholding structure of Nord Stream AG with a 9 per cent stake.