ENGIE and Gazprom celebrate 40 years of commercial cooperation, further reinforced by the Nord Stream 2 project
On November 12th, in Saint Petersburg, ENGIE and Gazprom celebrated the 40th anniversary of their commercial cooperation, marking the signing in 1975 of the first natural gas supply contract between Gaz de France and Sojuzneftegazexport.
On this occasion, Gérard Mestrallet, Chairman and Chief Executive Officer of ENGIE, Isabelle Kocher, Executive Vice-President and Chief Operating Officer of ENGIE and Alexey Miller, Chairman of the Gazprom Management Committee, together highlighted the quality of the relationship which has always prevailed between both groups throughout this long period. Founded on gas supply and strengthened by scientific and technical cooperation, this long-standing partnership was further developed in 2010 with the joint participation in the transmission company Nord Stream.
Gérard Mestrallet and Alexey Miller also underlined the importance they attach to the Nord Stream 2 project which was launched in September 2015 together with E.ON, Wintershall, OMV and Shell. They announced that ENGIE and Gazprom agreed to modify their respective stakes in the project, whereby ENGIE will take 10% of the Nord Stream 2 AG company whilst Gazprom will hold 50%, compared to the previous 9% and 51%. This new shareholder structure equalizes the European and Russian interests in this new infrastructure, reflecting its relevance to Europe’s future energy supply needs.
Nord Stream 2 will double the current Nord Stream pipe system connecting Russia with Germany under the Baltic sea. This strategic industrial project will contribute to the diversification of natural gas routes towards Europe, and hence to its medium and long term security of supply.
“Today we celebrate the 40th anniversary of our cooperation, 40 years of stable supplies of Russian gas to France. This is a clear testament of constructive, mutually beneficial relations between two world class companies. We proceed in our cooperation with ENGIE based on long-term contracts which constitute an important element of energy security in France. Today we also celebrate another jubilee — five years ago ENGIE became a partner in Nord Stream. Today the success of the project is known to everyone, so in September we and our European partners, including of course ENGIE, made a decision to construct Nord Stream II. The project will bring to the European market additional 55 billion cubic metres of Russian gas”, said Alexey Miller.
Gérard Mestrallet stated: “We are very pleased to celebrate the longevity and robustness of our partnership with Gazprom, which has greatly contributed to the development of natural gas in Europe over the years. Looking forward, ENGIE’s commitment to the Nord Stream 2 project illustrates our confidence in the future of this energy. Natural gas has its rightful place in energy transition, particularly in the reaching of the European Union’s objectives regarding greenhouse emissions by 2030.”
ENGIE develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation, security of supply and the rational use of resources. The Group provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 152,900 people worldwide and achieved revenues of €74.7 billion in 2014. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, DJSI World, DJSI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).