Germany's gas giant E.ON and Russia's gas monopoly Gazprom will work together..
Germany's gas giant E.ON and Russia?s gas monopoly Gazprom will work together on the construction of the North Transgas Pipeline.
The companies signed a memorandum of mutual understanding that stipulates agreement on the further deepening of cooperation in strategic projects.
These could include gas extraction in Russia, transporting gas to Europe, producing electricity in Russia, developing infrastructure for distributing and selling natural gas and electricity in Europe.
The gas production angle mainly involves developing the Yuzhno-Russkoye deposit, which has been targeted as a main resource for the North Transgas Pipeline, Gazprom said.
Gazprom hopes to get involved in gas and electricity selling, including sales to end consumers.
The two companies are looking to work during their partnership in financial participation in other enterprises and other assets and thereby use their advantages on power and gas markets.
