GAZPROM & GASUNIE: STRATEGIC PARTNERSHIP
Amsterdam hosted the annual meetings of the Coordinating Committee for Strategic Cooperation and the Coordination Committee for Sci-Tech Collaboration between Gazprom and Gasunie, chaired by Dmitry Lyugai, Member of the Management Committee, Head of the Prospective Development Department of Gazprom and Hans Coenen, Vice President for Corporate Strategy & Portfolio Management, Managing Director of Gasunie Deutschland.
The meetings discussed the progress with the Memorandum on Strategic Cooperation and the Sci-Tech Collaboration Program of Gazprom and Gasunie in 2013 as well as put forward their proposals for cooperation development in 2014 and 2015.
It was noted that the joint implementation of new infrastructure projects, including the possible expansion of the Nord Stream gas pipeline, was to be regarded as one of the essential elements for securing reliable gas supply to European consumers.
Another key area of strategic cooperation between Gazprom and Gasunie is liquefied natural gas (LNG), including small-scale LNG projects. Further collaboration in this area will provide for diversifying hydrocarbon supply routes to Europe as well as for using natural gas in land and marine vehicles as an eco-friendly alternative to conventional fuels.
The parties emphasized their long-term strategic nature of cooperation in developing gas transportation infrastructure, underground gas storage, energy efficiency, innovative technologies, environmental protection, 'green gas'-related projects.
The meeting participants visited the Gate LNG-terminal in Rotterdam – the first one in the Netherlands to receive, store and subsequently distribute LNG via land and marine vehicles.
Gasunie is a European gas infrastructure company, whose network ranks among the largest high pressure gas pipeline grids in Europe with the total annual gas throughput of approximately 125 billion cubic meters. Gasunie's network consists of over 15,000 kilometers of pipeline in the Netherlands and northern Germany and approximately 1,300 gas receiving stations. The company also offers natural gas transportation services, as well as natural gas and LNG storage services.
In 2013 Gazprom supplied 2.13 billion cubic meters of natural gas to the Netherlands.
In November 2007 Gazprom and Gasunie signed the Umbrella Agreement on joint participation in the Nord Stream project and BBL. In June 2008 Gasunie was added into the Nord Stream AG shareholders register as a new shareholder obtaining a 9 per cent stake in the joint venture.
In December 2007 Gazprom and Gasunie signed the Agreement on Sci-Tech Collaboration.
In April 2013 Gazprom and Gasunie signed a document stipulating cooperation between the companies in exploring the possibilities for the Nord Stream gas pipeline expansion as well as setting up other infrastructure projects to secure gas supply for Northwest Europe and the UK.
In May 2013 Gazprom and Gasunie signed the Memorandum of Understanding on Strategic Cooperation, providing for enhancing cooperation between the companies in such areas as gas infrastructure development, Nord Stream expansion, LNG, energy efficiency, innovative technologies, environmental protection, educational projects, information and cultural exchange.
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REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.
BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.
Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.
Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.