Energy Business Review
Anonymous User | Login

EDF, Gazprom Sign MoU On Joint Participation In South Stream Project

Published: 30-Nov-2009

French electricity group EDF and Russian gas company Gazprom have signed a memorandum of understanding (MoU) on the possibility of EDF participating in the construction of the offshore section of the South Stream pipeline.

Gazprom said that the details of EDF's participation in the project will be worked out jointly with Italian oil and gas group ENI, which currently owns 50% of South Stream, the operator of the offshore section of South Stream project. Eni and Gazprom are currently joint partners in South Stream.

EDF is likely to obtain a 10% stake in the South Stream pipeline, which is expected to become operational in 2015 and cost between EUR19 billion and EUR24 billion. South Stream will transport Russian gas into Europe, bypassing Ukraine.

According to Gazprom, the MoU states that EDF's entering the South Stream will foresee the conclusion of new long-term gas sales contracts. Following the MoU, Gazprom and EDF will also expand cooperation in the electricity sector in France and elsewhere.

Alexei Miller, chief executive of Gazprom, said: "We are gaining a new reliable and long-term partner today in EDF. The participation of a French company in the South Stream project underscores the pan-European scale of the pipeline and is additional evidence of its tremendous importance for ensuring stable energy supplies to the continent.

"We are confident that South Stream, along with Nord Stream, which is being recognized by a growing number of European countries, will ensure the well-being of Gazprom's customers in terms of energy."

In order to diversify natural gas export routes, Gazprom plans to build South Stream gas pipeline across the Black Sea to the countries of South and Central Europe.

Mail sent successfully

Tell your friend about this article


Please enter a valid email address

Please enter your name

Please enter the mail body


Your Name: *
Your Email: *
Friend's Email: *
Email Body: *
 

Suppliers To This Sector

Browse A-Z

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Krøll Cranes

Quality Tower Cranes ...

KE-Burgmann

Leading Manufacturers of Fabric, Metal and Rubber Expansion Joints and Metal Hoses ...

Favuseal

Fire Barrier System ...

Beluga Shipping

Your Experts for Heavy Lift and Project Cargo ...

eyevis

Large Screens for Professional Applications ...

Kelvin TOPSET

Industrial Action and Incident Reporting Software ...

White Papers

Browse A-Z

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

2.5MW Wind Turbine

The latest evolution of GE Energy’s wind turbine technology, the 2.5xl wind turbine, is pl ...

Hardcore® Technology Drilling Solutions for the Heat Exchanger Industry

ATI Stellram develops and produces high-performance metal cutting tools for difficult-to-m ...

Increasing Cost-Efficiency of Substation Automation Systems by Centralised Protection Functions

New legislative and customer-oriented requirements pose challenges to substation automatio ...

Applying Modern Communication Technology to Loss-of-Mains Protection

The protection of distribution networks is facing new challenges from an increasing amount ...

Impacts of Quality Improvement Incentives on Automation Investments in the Finnish New Regulation Model

During the second regulatory period of 2008-2011 incentives are included into the Finnish ...

Utilising the Possibilities of IEC 61850 and GOOSE

This document describes the utilisation of some new features offered by IEC 61850, Communi ...

Related Companies

No items to display

Suppliers Product News

References for the Favuseal Fire Barrier System

An overview of our customers and past and presend installations of the Favuseal fire barrier system.

More than Four Times High Definition for Special Signage Applications

With the market introduction of the new EYE-LCD6400-4K 4k2k LCD panel with 64in screen diagonal, eyevis presents its second ultra-high resolution display with more than four times HD resolution.

Eco-Friendly Rear-Projection Cube Series with LED Light Source

With the new EC-LED cube series, eyevis presents a revolution in the field of modular video walls.

eyevis Finalist at InAVation Awards 2010

The new eyevis LED DLP cube has been chosen among the most innovative technologies and is the finalist at the Inavation awards 2010.

eyevis Exhibits at Intersec Show in Dubai

eyevis will showcase new video wall solutions for control rooms at the Intersec, the leading security exhibition in the Gulf region.

Free Newsletter Sign-up

Sign up, and we will send you a free Energy Report on 'Energy Security Threats & Key Issues for Global Oil & Gas Industry' from GlobalData worth $750

Please enter a valid email address