Public Joint Stock Gazprom : Gazprom and Wintershall Dea discuss current issues of cooperation

November 29, 2019, 16:40

Nord Stream and Nord Stream 2

A working meeting betweenAlexey Miller, Chairman of the Gazprom Management Committee, and Mario Mehren, Chairman of the Board of Wintershall Dea, took place in St. Petersburg today.

The meeting was focused on the current issues of cooperation between the companies. Particular attention was paid to natural gas deliveries. The parties noted the contribution of theNord Streamgas pipeline to the reliability and safety of gas supplies to consumers in Germany and Europe.

Special emphasis at the meeting was placed on the progress of theNord Stream 2project and the development of the German gas transmission system.

In addition, the parties discussed the ongoing interaction between the companies on developing deposits located in Russia. Alexey Miller and Mario Mehren expressed their appreciation for the joint efforts on the projects for the development and exploration of Blocks 1A, 4A and 5A in the Achimov formations of theUrengoyskoyeoil, gas and condensate field and theYuzhno-Russkoyeoil and gas field.

BackgroundIn 2018, Gazprom's gas supplies to Germany hit a record high of 58.5 billion cubic meters, an increase of 5.1 billion cubic meters (9.5 per cent) against the 2017 record of 53.4 billion cubic meters.

Wintershall Dea GmbH is Europe's largest independent oil and gas producer, formed by the merger of Wintershall Holding GmbH (subsidiary of BASF) and DEA Deutsche Erdoel AG (subsidiary of LetterOne).

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. In 2017,Nord Stream 2 AGsigned agreements with ENGIE, OMV, Royal Dutch Shell, Uniper, and Wintershall to provide financing for 50 per cent of the total cost of the project.