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Gazprom and Uniper reaffirm commitment to deliver Nord Stream 2 on time

#Nord Stream and Nord Stream 2

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Klaus Schaefer, Chief Executive Officer of Uniper, took place at the Gazprom headquarters today.

The parties discussed bilateral cooperation in the energy sector, focusing, inter alia, on the joint efforts of Gazprom and Uniper in the field of natural gas production and transmission.

Alexey Miller and Klaus Schaefer also addressed the situation in the European energy market. It was noted that demand for Russian gas in Germany was consistently growing. In February 2017, Russian gas exports to Germany added 24.3 per cent compared to the same period of 2016.

In connection with the above, the meeting participants expressed their appreciation for the Nord Stream project. The parties agreed that the gas pipeline had proven its relevance, serving as an example of mutually beneficial partnership between Russia and Europe.

Alexey Miller and Klaus Schaefer confirmed their intention to bring a new offshore pipeline, Nord Stream 2, into operation on time and underscored that the project was running on schedule.

Background

In 2016, Gazprom’s gas exports to Germany hit a record high of 49.8 billion cubic meters (a 10 per cent increase compared to 2015).

Uniper SE is a subsidiary of E.ON SE focused on power generation and global energy trading.

Gazprom and Uniper are jointly engaged in gas production in Russia, cooperate in gas supplies and transportation abroad, and implement joint scientific & technical and social & cultural programs.

Nord Stream is the export gas pipeline with the annual design capacity of 55 billion cubic meters of gas running across the Baltic Sea to Germany. The project operator is the Nord Stream AG joint venture (Gazprom – 51 per cent, Wintershall and Uniper – 15.5 per cent each, and Gasunie and ENGIE – 9 per cent each).

Nord Stream 2 is the construction project for a gas pipeline with the annual capacity of 55 billion cubic meters from Russia to Germany across the Baltic Sea.

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