Gazprom, Caterpillar to Cooperate in NGV Sector (Russia)

A working meeting among Viktor Zubkov, Chairman of the Gazprom Board of Directors, Alexey Miller, Chairman of the Gazprom Management Committee and Donald James Umpleby III, President of Caterpillar Group took place at St. Petersburg as part of the International Economic Forum 2013.

The parties stressed that the Russian NGV market had a high potential for growth and opened vast possibilities for cooperation between the companies.

The talks resulted in the signing of a Memorandum of Understanding concerning potential cooperation in using gas as a vehicle fuel.

The document provides for exploring the possibilities for interaction aimed at introducing various equipment using natural gas as a vehicle fuel in Russia. It is planned that mining and petroleum industries, railroad transport, power generation and shipbuilding will be the major areas of joint activities aimed at the expansion of gas-powered equipment utilization.