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Gazprom and Uniper emphasize importance of direct gas deliveries from Russia to Europe

June 16, 2016, 17:45

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Klaus Schaefer, Chief Executive Officer of Uniper, took place today at the St. Petersburg International Economic Forum 2016.

The meeting participants addressed Russian gas deliveries to Germany and other European countries.

The parties emphasized the importance of Nord Stream for reliable exports of Russian gas to the European markets. It was noted that increasing gas supplies through the pipeline, which had grown by 9.8 per cent in 2015 versus 2014, underscored the relevance of direct routes from Russia to Europe.

In this respect, the companies' executives discussed the progress of the Nord Stream 2 gas pipeline construction.

Background

Uniper is a wholly-owned subsidiary of E.ON that began operations on January 1, 2016. The company is focused on power generation and global energy trading.

Nord Stream is an export gas pipeline with the annual capacity of 55 billion cubic meters of gas running from Russia to Germany across the Baltic Sea. Nord Stream AG (Gazprom owns a 51 per cent stake, BASF/Wintershall and E.ON – 15.5 per cent each, and Gasunie and Engie – 9 per cent each) is the project operator.

In 2015, Gazprom, BASF/Wintershall, Engie, OMV, Shell, and Uniper inked the Shareholders Agreement to construct the Nord Stream 2 gas pipeline system with the annual capacity of 55 billion cubic meters from Russia to Germany across the Baltic Sea.

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