Nord Stream & South Stream Strengthening Ties between Russia and Europe

Source: 3/26/2014, Location: Asia

The Gazprom headquarters hosted a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Jean-Maurice Ripert, Ambassador Extraordinary and Plenipotentiary of France to the Russian Federation.

The parties addressed the status of Russian-French partnership in the power sector and looked into the prospects for the cooperation deepening.

It was pointed out that the success in implementing such joint projects as Nord Streamand South Stream strengthened the ties between Russia and Europe and boosted the reliability of gas supply to European consumers.

France is Gazprom's sixth largest market beyond the FSU after Germany, Turkey, Italy, the UK and Poland.

In 2013 Gazprom supplied 8.17 billion cubic meters of gas to France.

In 2006 Gazprom and GDF SUEZ signed the Agreement to extend the existing contracts for Russian natural gas supply to France until 2030.

Since 2010 GDF Suez has been a shareholder of Nord Stream AG responsible for the Nord Stream project. GDF Suez holds a 9 per cent stake in the company.

French EDF holds a 15 per cent stake in South Stream Transport B.V. engaged in constructing South Stream's offshore section.

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