Gazprom and Gasunie sign agreement on participation in Nord Stream and BBL

Moskou/Groningen | press release

Today Alexei Miller, Chairman of the Management Committee of JSC "Gazprom" and Marcel Kramer, CEO of N.V. Nederlandse Gasunie signed an Umbrella agreement on joint participation of both companies in the projects of the Nord Stream pipeline and BBL pipeline, as well as towards the use of transport capacity in the Gasunie network. The signing took place in the presence of Vladimir Putin, the President of the Russian Federation, and Jan Peter Balkenende, the Prime Minister of The Netherlands.

According to the agreement Gasunie will receive a 9% share in the capital of Nord Stream AG, coming from Wintershall and E.ON Ruhrgas who will each cede 4,5% of the shares, while Gazprom will have an option to acquire 9% in BBL Company. When the deal is implemented, the shares in Nord Stream will be distributed as follows: Gazprom will maintain its 51% share, Wintershall and E.ON Ruhrgas will keep each 20% of the shares and N.V. Nederlandse Gasunie will have 9%.

“The signed agreement signifies the beginning of the new phase of co-operation with Gasunie. Realising large scale projects aimed at secure supply of European consumers, we will be able to significantly contribute to ensuring the energy security of the continent” stated Alexey Miller.

"This agreement is an important step forward. The co-operation between Gasunie and Gazprom over many years has been excellent and fully supported by the authorities of both countries. Gasunie’s participation as a fourth partner in Nord Stream underlines the broad European scope of this project. This project is of great importance for European security of supply, especially because domestic production in Europe is declining, while demand for gas as the cleanest fossil fuel is very robust," said Marcel Kramer.

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