Alexey Miller and Nicolas Sarkozy Discuss Russian-French Energy Sector Cooperation

  • Business & Finance

 

Paris hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Nicolas Sarkozy, President of France.

The parties considered cooperation between Russia and France in the energy sector placing a special emphasis on the progress with joint projects of Gazprom and French companies.

Alexey Miller noted that close interaction among Europe’s largest energy companies boosted economic development of the whole continent while joint projects of Russia and France laid a cornerstone for strategic partnership in the global energy market.

Background

France is one of the largest export markets for Gazprom. Russiahas been supplying gas to France since 1975.

At present, Gazprom closely cooperates with three major French companies: GDF SUEZ, Total and EDF. With a 9 per cent stake GDF SUEZ is a shareholder of Nord Stream AG , the Nord Stream gas pipeline operator. Total holds a 25 per cent stake in Shtokman Development AG set up for designing, developing, constructing, financing and operating facilities within Phase 1 of the Shtokman field development. EDF is at the stage of becoming a shareholder of South Stream AG through a reduction of Eni’s stake in the joint venture.

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Source:Gazprom, February  24, 2011;

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