Gazprom’s export of natural gas to Germany rising

Gazprom’s export of natural gas to the German market jumped 15.7 percent in the January-May period in 2017, in comparison to the corresponding quarter last year. 

In total, Gazprom delivered 22.3 billion cubic meters of gas to Germany, Russian giant’s head Alexey Miller and Uniper’s CEO Klaus Schaefer, noted during their meeting in St. Petersburg.

In 2016, Gazprom’s gas supplies to Germany hit 49.8 billion cubic meters, a 10 percent increase compared to 2015.

The two parties also discussed the cooperation on the Nord Stream 2 project, saying that “the signing of the financing agreements was crucial to the implementation of the project.”

Nord Stream 2 is the construction project for a gas pipeline with the annual capacity of 55 billion cubic meters from Russia to Germany across the Baltic Sea. The project is implemented by Nord Stream 2, where Gazprom is the sole shareholder.

In April Nord Stream 2, Engie, OMV, Royal Dutch Shell, Uniper and Wintershall Holding signed the financing agreements for the Nord Stream 2 project.