Denmark: Gazprom, DONG Energy Sign LOI to Cooperate in Gas-fired Power Generation

Tuesday in Copenhagen Alexey Miller, Chairman of the Gazprom’s Management Committee and Anders Eldrup, Chief Executive Officer of DONG Energy signed a Letter of Intent to establish cooperation in gas-fired power generation.

The cooperation will focus on promoting the use of natural gas in Europe as a cleaner alternative to coal and a complement to the expanding renewable power generation capacity.

The cooperation will combine reliable and long-term gas supply from Gazprom with DONG Energy’s experience and capabilities in power generation in a joint effort to build new gas-fired power capacity in Europe.

“Views of Gazprom and DONG Energy regarding significance of natural gas fully coincide: extension of its consumption is important for environmental protection and future sustainable development of Europe. Moreover, the use of gas is all at once safer, more environmentally friendly and more cost-effective compared to use of any other sources of energy”, said Alexey Miller.

“We are very pleased with this new initiative which strengthens our long-term cooperation with Gazprom. A strong focus on renewable energy and gas-to-power will become an important cornerstone in the transition to the sustainable energy production of the future”, said Anders Eldrup.

[mappress]

Source: Gazprom, April 27, 2011;